Milton Keynes MP welcomes Autumn Statement: ‘Good news for our High Streets’

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Today’s Autumn Statement announced a £1billion cash-injection for small businesses, which has been welcomed by city MP Iain Stewart.

Mr Stewart said: “In my constituency we have some high streets doing better than others, but all small business owners agree that business rates are damaging growth.

“It is so important to our economy that our high streets are successful so these measures are very welcome.”

The review, which will be completed by early 2016, has been welcomed by business groups as business rates are set to be reviewed.

Changes to the 400-year-old business rates system raise the prospect of prices in the shops falling as firms face lower charges.

Mr Stewart added: “In addition the Government will be putting aside £1 billion for small businesses, which will put them at the heart of the recovery.

“On top of that a scheme which rewards banks for lending to businesses will be extended for a year and will be focused on SME’s.

“I will be out in Stony Stratford for Small Business Saturday so I look forward to discussing what more can be done to ensure retailers and others are given the best chance for success.”