West Worcestershire MP Harriett Baldwin today welcomed the Chancellor of the Exchequer’s Autumn Statement saying it would be a boost for business. George Osborne announced a range of measures to help businesses including the further freezing of small business rates, a rate deferral scheme for larger businesses, a credit easing scheme and a further £1 billion for the regional growth fund. Harriett welcomed the statement and suggested that these measures would be approved of in the local business community. Harriett commented: “With a global debt crisis, we have to do everything we can to ensure Britain’s interest rates remain very low and that businesses have access to low cost lending to ensure our future economic recovery. “Many shops and small businesses will immediately benefit from the extension of small business rate relief to April 2013. "Larger firms whose rates will rise in line with inflation will benefit from a scheme to defer 60 per cent of that increase for two years. The measures to introduce credit easing will also help cut interest rate bills for business. “I welcome the plans to improve our national infrastructure, especially rural broadband.” “There were many other welcome aspects to the Autumn Statement. I know pensioners in my constituency will be particularly pleased at a 5.2 per cent increase in their pensions, the largest increase in history, combined with a freeze in their council tax for a further year.” FULL TEXT FROM THE DEBATE: Harriett Baldwin (West Worcestershire) (Con): There were many measures in the statement that will help businesses with their cash flow, which is truly to be welcomed, for example extending the small business rate relief and credit easing. Will the Chancellor clarify that where business rates go up in line with RPI next year, there will be the ability to defer 60% for two years interest-free? Mr Osborne: We are helping businesses with their cash flow, but it is not a subsidy to those businesses, more a cash-flow measure. | Hansard