We have 3,550 businesses registered in our constituency, up 5% from when I first became your MP (and 5,000 in self-employment), and it’s been lovely to pop into even more of them than usual over the summer. Including, to highlight just a few, Barter Books, Alnwick, The Running Fox, Shilbottle, Green’s Butchers, Longframlington, and Guru Coffee Co in Fenwick.
Over a quarter of local businesses are in retail, food, accommodation and recreation, showing the importance of hospitality businesses for our local tourism industry. In the three years pre-pandemic, tourists made 912,000 holiday trips a year to Northumberland, spending £205m, such as in Bamburgh, top of Which?’s UK’s favourite seaside destinations for the third year in a row!
Another quarter are in agriculture, with more in construction, manufacturing and services, helping North Northumberland play our part in growing the economy and contributing to the North East’s £29.3 billion of international trade last year. From my time as Trade Secretary, it’s evident it is businesses who will help us halve inflation and grow the economy, so while being honest about the difficult realities remains important, the Government has been backing businesses too.
From the £100m in Covid grants to businesses here in our constituency – 19,000 payments – as well as over 2,000 Government-backed business loans totalling £78m, plus the further £32.8m for our constituency in self-employment income support, to the countrywide £5.5 billion Energy Bill Discount Scheme for businesses and £13.6 billion package to help businesses transition to new business rate values, protect businesses from the full impact of inflation, and support our high streets, the Government has been there.
With the lowest Corporation Tax rate in the G7 – and smaller businesses with less than £50,000 of profit still paying only 19% – plus full expensing for qualifying plant and machinery investment to support businesses to grow, the Government is on your side going forward too.
Nothing is ever perfect though, so if your business has encountered technological or other difficulties, whether in exporting, expanding or anything else, please fill out my local business survey at: teamtrevelyan.co.uk/business Similarly, if you'd like more information on exporting or expanding, or just want to add to the economic case for dualling the A1, please check it out.
