"Support in place" for Stamford's local economy in 2023, says Gareth Davies MP

MP for Grantham and Stamford, Gareth Davies, says there's a 'package of support in place' that will benefit the local economy.

Businesses in Stamford were once again hit by rising interest rates this week after the Bank of England announced they would increase to 3% - the biggest hike since 1989.

With the Government's Energy Bill Relief Scheme offering discounts on non-domestic contracts lasting only until March 31 - plenty of businesses will be feeling uncertain about the future.

'Support package in place'

Gareth Davies told Greatest Hits Radio that energy support should be "constantly under review", but stopped short of saying what he'd like to see happen:

'Whatever we do in the coming months, it builds on the back of a significant amount of support for businesses and quite right too, because they employ our people, they keep our economy going.'

'I'm very proud to represent a large number of strong local businesses - we've got a package of support in place to get through this energy crisis.'

He added: 'It is right that the Government continually review that support as we continue to suffer from inflation. The Government has a great track record of supporting businesses, just look at the £154bn of support we provided businesses through covid.'

'We're now supporting businesses through this inflationary shock, caused by Putin's illegal war in Ukraine'.

A1 Investment

Mr Davies also mentioned the A1 near Grantham and Stamford had received recent investment:

'We've had over £4m of new investment in the Grantham and Stamford stretch of the A1 in recent months - and that's part of £196m investment for the whole region.'

'...I still have concerns about the slip roads, and the crossovers.'

Hear all the latest news from across the UK on the hour, every hour, on Greatest Hits Radio on DAB, smartspeaker, at greatesthitsradio.co.uk, and on the Rayo app.