Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what recent fiscal steps his Department has taken to help support small and local businesses in the (a) seasonal tourism and (b) service industries.

The Government is committed to supporting small and local businesses in the hospitality, tourism, and services sectors, which provide a significant contribution to the UK economy and society.

At the Autumn Statement 2023, the Government announced an extension to the 75% business rate relief for eligible retail, hospitality and leisure properties for 2024-25, a tax cut worth £2.4 billion.

Spring Budget 2024 goes further to support SMEs by increasing the VAT registration threshold from £85,000 to £90,000 which means the UK now has the joint highest VAT registration threshold in the OECD. This keeps the majority of UK businesses out.

Our Small Business Rates Relief means one-third of business properties in England already pay no Business Rates. We provide other tax reliefs benefiting SMEs such as the Annual Investment Allowance and Employment Allowance, and support investment in SMEs through British Business Bank programmes.

Furthermore, over this Spending Review period – the Government has allocated over £100m to the British Tourist Authority to support VisitBritain and VisitEngland with marketing activity to promote Britain as a destination.