Supporting Small Business — 19 Oct 2021 at 19:18

That this House recognises the importance of British businesses to high streets and communities across the UK and the exceptional challenges they face due to the pandemic and rising costs; regrets the Government’s current plan to end all temporary support for businesses from April 2022; calls on the Government to support businesses by freezing the business rates multiplier and extending the threshold for small business rates relief from £15,000 rateable value to £25,000 in 2022-23; and further calls on the Chancellor of the Exchequer to update the House in person before January 2022 on his Department’s assessment of the impact that removing the temporary business support will have on small businesses.

“to make sure that the businesses of this country can continue to flourish I am announcing today a package of measures cutting business rates further…particularly for SMEs to help…stimulate the high street.”

“final conclusions in Spring 2021”,

“in their current form, our business rates system is uncompetitive…and unfair.”

“Sky high business rates are closing stores up and down the country and preventing new ones from opening.”

“hits firms before they’ve even made a pound in turnover”,

“literally become a tax on investment.”

“It’s shameful that they have still not readjusted their thinking on how Amazon and the delivery giants should be paying equivalent rates of tax online…Their slowness in understanding, their tardiness, is ridiculous."

“anyone wanting to invest in new equipment-especially green technologies”,

“sees their business rates rise”

“is a perverse disincentive to investment and productivity improvement”.

“More than half of business investment is subject to business rates; this unfair, uncompetitive system has become a tax on investment that simply isn’t fit for purpose.”

“The Labour Party should be applauded for grasping the nettle and putting forward a pro-growth, pro-investment package of reforms that will reflect our green ambitions, spur the economic recovery”.

“just how desperate the need for business rates reform is.”

“Any can-kicking-or further business tax rises-would be seen a lost opportunity by firms of all sizes given the desire from both business and government to really go for growth.”

“a barrier to investment and cause an unnecessarily large burden to be placed upon businesses regardless of their ability to pay.”

“failure to act will risk the party losing a string of northern seats at the next election.”

“working their way back from the cliff edge of permanent closure in the midst of supply shortages, staff shortages, rising staff and operational costs”.

“hits firms before they’ve even made a pound in turnover.”

“literally…a tax on investment”.

Debate in Parliament |