Income Tax (Charge)

Robbie Moore Excerpts

Monday 4th November 2024 Commons Chamber

[Robbie Moore (Keighley and Ilkley) (Con)]

I start by putting on the record my sheer admiration for a constituent of mine, Clive Smith, who was chair of the Haemophilia Society and has long fought for compensation following the infected blood scandal. This has been a long and painful journey for many, and I welcome the measures for victims in the Budget, building on the measures announced by the previous Administration.

Last night I spoke to a family-run business in my constituency that has been operating for over two decades. During the general election, the Labour party in Keighley and Ilkley knocked on my constituent’s door and promised that a Labour Government would back businesses like hers, and she believed it. Like many people across the country, she was reassured time and again that this so-called Government of service would not raise taxes on working people like her. As a result of last week’s Budget, my constituent now faces tax increases of over 130%. That complete hammer blow on a local family business in my constituency could force her to freeze wages, raise prices and even consider the business’s future, all to the detriment of those same working people that the Labour party in my constituency promised to represent.

That will be the reality not only for my constituent but for many other businesses right across the country. The Federation of Small Businesses, the Institute of Directors, the British Beer and Pub Association, Family Business UK, UKHospitality and Make UK—the list goes on—have all made it clear and warned businesses that the Budget will hit them hard. The independent Office for Budget Responsibility said that 76% of costs incurred by the rise in employers’ national insurance will be passed on to workers, and the Joseph Rowntree Foundation estimated that the average family business would be £770 worse off, yet we have Cabinet members constantly saying that everything is okay.