Peterborough MP urges Chancellor to do more to support businesses through pandemic

Peterborough MP Paul Bristow is urging the Chancellor Rishi Sunak to take action to ease the financial impact of the health crisis on many of the city businesses.

He is lobbying Mr Sunak to extend the current exemption to business rates and to provide ‘more generous’ term for the payment of VAT to the HM Revenue and Customs.

In a letter to the Chancellor, Mr Bristow states that these two initiatives would ‘give local businesses the shot in the arm they so desperately need’.

He writes: “The key to our recovery later this year is business confidence.

“I hope you can appreciate many businesses in Peterborough have been impacted by closures and restrictions for far longer than either they or then Government anticipated at the time of the announcement of these initiatives.

“I’d be grateful if you could look into the extension of these schemes to allow businesses to plan with confidence for the recovery.”

Mr Bristow also states that the unprecedented support package provided by the Government to businesses in Peterborough has been warmly received and has helped save local businesses and protect jobs.

He added: “I have been working with businesses throughout the crisis to ensure they have the support they need whilst we continue to fight this horrible virus.

“I recently met with Peterborough Positive - the Business Improvement District for Peterborough - who represent more than 400 businesses and organisations in the city.

“They are as excited as I am about Peterborough’s prospects, and look forward to leading new projects and investing in Peterborough to make it an even better place to do business.”

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