Oral Question·Department for Business and Trade
“What recent assessment his Department has made of trends in the level of operating costs for SMEs.”
Tabled: 10 July 2025Answered: 17 July 2025
Asked by
Susan Murray
Liberal Democrat — Mid Dunbartonshire
Answering Minister
the Secretary of State for Business and Trade
Answer from Hansard
Gareth Thomas (Harrow West) (Lab/Co-op)
Over the past five years, SMEs have faced a challenging operating environment because of the consequences of the Liz Truss Budget, the poorly negotiated trade deal with Europe, covid and increasing global uncertainty. Interest rates have come down four times under this Government, we have negotiated a new trade deal with Europe and, complementing our industrial and trade strategies, we will bring forward an SME strategy to put in place further long-term support to help SMEs start up and expand.