High Streets: Autumn Budget 2024
Debate between Rachel Gilmour and Victoria Collins(4 weeks, 2 days ago)
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Victoria Collins
Absolutely; that is very much in line with the feedback I had from businesses. Indeed, it is with much disappoint that I share the impact of the autumn Budget on my local businesses. It is no secret that the Conservatives left our economy in a mess, and many of our businesses are still reeling from that. That is exactly why it is important for the Government to get this right.
Many of the proposals in the autumn Budget will not lead to growth on our high streets. I would like to have faith that Labour intended to do the right thing and that these are unintended consequences. I hope that the Government heed some of the warnings and take action to mitigate the impact and change course. In the words of one director in my constituency,
“it is a disaster…all planned investment has been cancelled, expansion plans cancelled. Prices will go up on 1st April by at least 10%. And we’re looking at ways to reduce staff count.”
Rachel Gilmour (Tiverton and Minehead) (LD)
Does my hon. Friend agree that the high streets of Tiverton and Minehead, as well as those of every other constituency in the country, will be hurt by this Government’s decision to lower the amount of relief offered to retail, hospitality and leisure businesses from 75% to 40%? Does she also agree that they should instead be looking to replace business rates with an entirely new commercial landowner levy, rather than tinkering around the edges and making an already bad system worse?