Brian Binley MP for Northampton South has today questioned the Prime Minister in the House of Commons on what steps the Government is taking to reduce inflation and increase demand in the economy.
Citing a report by More Than in collaboration with the Warwick Business School, Brian said: “Small firms are experiencing the highest rate of inflation for three years and with fuel and material costs continuing to rise, is it not worrying that slow growing markets and high rising costs are inhibiting growth in this country?”
“Will the Government do more to make tackling inflation a priority, providing consumers with the impetus to stimulate private demand?”
The Prime Minister responded positively stating that the current Government had done away with the planned 6p rise in the cost of petrol by introducing the fuel stabiliser and scrapping the duty escalator and declared this Government as a “very small business friendly government” and said he will do all he can to speed up the rate of growth.
Following Prime Ministers Questions Brian said: “Many businesses in Northampton have approached me recently saying they are concerned about rising costs and falling demand.”
“I am concerned because unless we get some growth into the economy the Government will not achieve the aims of the budget strategy. I think the Prime Minister needs to understand that there is much more they can be doing to stimulate demand.”
“In recent weeks I have publically backed the Federation of Master Builders calls for a reduction on VAT in the home repairs sector and I have also called on the Government to consider reintroducing the MIRAS scheme for first time buyers.”
“I will continue to take this fight to the very top of the Government and strongly believe that much more can be done to help the business community.”
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