Oral Answers to Questions

Debate between Andrew Rosindell and George Osborne

Tuesday 19th January 2016 Commons Chamber

[Andrew Rosindell (Romford) (Con)]

11. What fiscal steps he is taking to support small business owners.

[The First Secretary of State and Chancellor of the Exchequer (Mr George Osborne)]

The Government are backing businesses by cutting their taxes. We have given Britain the lowest corporate tax rate in the G20, and we are cutting it further. To support small businesses, the employment allowance will rise by 50% in April, and we are doubling small business rate relief. This Government understand that we create jobs and raise money for public services by backing companies, not by punishing them with the kind of anti-business, anti-enterprise nonsense that we hear from the Labour party.

--- Later in debate ---

[Andrew Rosindell]

What steps does the Chancellor intend to take to ensure that the quarterly tax returns that are made in 2020 will not harm small businesses in constituencies such as mine by affecting their productivity and their ability to make profits?

[Mr Osborne]

My hon. Friend is right. Our objective is to make it easier for businesses, and indeed individuals, to complete their tax returns by making use of modern digital technology, and we are introducing a simple and secure personalised digital tax account. We estimate that that will reduce the administrative cost to businesses by £400 million.