(2 months, 1 week ago)
Commons ChamberMy hon. Friend is right. This morning we met representatives from UKHospitality, who said exactly that: the Bill is coming on the back of a number of changes and some difficult times during covid for industries that employ a lot of people, which will be particularly badly affected by this legislation. The Government should think twice about implementing it at this moment in time.
My hon. Friend mentioned the 302 mentions of uncertainty. It is hard to know how that can foster growth. Let us be honest: businesses are already more highly taxed and regulated than ever before. We all know the reason—the pandemic— and we have to take responsibility for that. Will he assure me that, as a party, we will use this period of opposition to once again proclaim our values as a low-tax, deregulated economy? Otherwise, how will we foster growth in an increasingly competitive world? If we tax businesses more, we simply lay the foundation of a future Labour Government.
I agree. We should be low tax and low regulation. One of the saving graces of this legislation is the detail, although the Bill itself is light on detail: many of the measures will be brought in through secondary legislation, therefore making it easier for a future Government to reverse some of the catastrophic changes.