Budget Resolutions

Damien Moore Excerpts

Tuesday 30th October 2018 Commons Chamber

[Damien Moore (Southport) (Con)]

It is a pleasure to follow the hon. Member for Mitcham and Morden (Siobhain McDonagh).

I thank the Chancellor and his team for their efforts in making this Budget possible. In particular, I am immensely grateful to him for his consideration in cutting business rates for small businesses. This issue is important both to my constituents and to businesses in Southport, and I am grateful to him for mentioning this in his speech yesterday. It seems to me that we should be trying to play to our strengths as a country. That is the way we are going to attract investment, keep employment at a record low, provide jobs and prosperity for people in the future, and create increased funding for our public services.

One of Britain’s, and indeed Southport’s, strengths is its small businesses that provide the majority of jobs in the private sector. One of the benefits of being the Member of Parliament for Southport is that I get to meet some extraordinary entrepreneurs and small business owners. They are the people who form the backbone of our economy, and over the past year I have had the pleasure of meeting many of these hard-working individuals. I therefore deeply welcome the new tax reforms set out by the Chancellor in his Budget speech yesterday, which will provide unparalleled relief to many small business owners in my constituency.

However, things have been all the more difficult for small businesses in Southport because they are having to work without the support of Labour-led Sefton Council, which is more interested in punitive charges than in building a strong economy. Lord Street, in particular, is suffering under the Labour Council, but it is now set to be handed a fighting chance under this Conservative Government and this autumn Budget.

There are a number of things I want to talk about in the time I have available. The first is the Chancellor’s plan for our high streets, which will provide up-front support through business rates, while implementing a package of transformational initiatives, including a £675 million future high streets fund. Then, specifically, there are those things that can make a real difference to small businesses in our communities: how we can get out of their way in terms of tax and regulation; how we can stand up for them by regulating the online marketplace and digital businesses to create a level playing field with the marketplace on our high streets; and then, finally, how we can create growth so that we can continue to put record investment in our public services.

Cutting the deficit is still important, because only if we continue to deal with the debt left behind by a reckless Labour Government will we be able to safeguard our economic future and invest in all those things that are so essential. We are making good progress—the UK economy has grown every year since 2010, and unemployment is at its lowest level since 1975. But we have to be honest: there is still more work to do to ensure we live within our means. We have to stick to our plan, making difficult decisions about spending that will get the debt and the deficit under control but that do not penalise the wealth creators and businesses in our country. We need to invest tax receipts, not waste them like the Labour party does.

We also have to provide a much needed boost to small businesses that were left behind by the last Labour Government, to ensure unemployment remains at a record low and that the longevity of our high streets is maintained. Again, that takes difficult decisions, so I welcome the announcement in yesterday’s Budget to provide up-front support through the business rates system, cutting bills for retail properties with a rateable value of below £51,000, which will benefit 90% of retail properties. I also welcome the addition of the £675 million future high streets fund. That means that someone running a small business will see their tax come down by a third and their high street restored.

It is not just about getting out of the way of small business but about standing up for those specific issues. It is about making sure that those same small businesses are not disadvantaged by an overbearing digital marketplace that is not paying its fair share—a real David and Goliath battle. I was therefore delighted to hear in the Chancellor’s statement yesterday that the Government will introduce a new 2% tax on the revenues of certain digital businesses to ensure that the amount of tax paid in the UK reflects the value they derive from their UK users, ensuring an even ground between businesses on our high streets and online. It is not Amazon or Facebook that are the lifeblood of this country; it is the small businesses in constituencies like mine.

That is why small business is important. It means more business and more tax collected and more economic growth, and, yes, a strong economy means more money for our public services. I therefore welcome the Chancellor’s announcement yesterday of additional funding, and an indication that the hard work is starting to pay off. This means £2 billion more for mental health, and the long-term plan for the NHS will commit further funding to help achieve parity of esteem between mental and physical health services. That means anyone experiencing a crisis can call the NHS line 24/7, and it means more mental health ambulances, increased community support and comprehensive support at every major accident and emergency by 2024.

I have discussed school funding with headteachers in my constituency. This Budget means £400 million more for schools this year, with £10,000 allocated to the average primary and £50,000 to the average secondary to help schools buy the equipment they need. It means £1 billion more for defence across this year and next, ensuring our world-class armed forces can face the new threats and build on the UK’s record of spending more on defence than any NATO member except the US.

With unemployment at its lowest since 1975 and employment at a near record high, the years of financial hardship endured by the people of this country due to Labour’s inability to fix the roof while the sun was shining is now a thing of the past. With this Budget and a strong economy, constituents and businesses in my constituency of Southport can be assured that this Government are delivering for them and that their hard work is paying off.