Sir Gavin Williamson has called on the Government to urgently row back on their plans to reduce business rates relief from 75% to 40% as he held a Parliamentary debate to highlight this damaging policy.
Staffordshire businesses have warned they face closure unless the Government changes course. Small businesses, particularly in the hospitality and service-orientated sectors, rely heavily on rate relief to enable them to thrive and expand.
Figures show that an average shop will see their rates jump from £3,589 to £8,613, whilst restaurants will see rates increasing from £5,051 to £12,122. There are fears this will result in more empty units on High Streets, loss of jobs, and an impact on the character and identity of towns as well as villages.
Sir Gavin said: “Labour are once again proving that they are the enemy of business. If hiking National Insurance wasn’t enough, the Government are now reducing business rates relief in a further blow to our communities.
“Independent businesses are sounding the alarm and are demonstrating the effect these policies are having by scaling back their operations, rowing back on investment, and making redundancies.
“MP’s from across the political divide all agree that the Government are stifling growth and threatening the vibrancy of our High Streets as well as local economies.
“I will continue to urge the Government to be a supporter of business and I hope they act before it is too late.”
