Question to the HM Treasury:

To ask His Majesty's Government what assessment they have made of reports that small businesses are considering relocating overseas due to concerns about changes announced in the Autumn Budget.

The Budget announced generous tax reforms to support small businesses. Most notably, more than doubling the Employment Allowance to £10,500; commitments in the Corporate Tax Roadmap to maintain the Small Profits Rate and marginal relief at their current rates and thresholds, as well as maintaining the Annual Investment Allowance; and freezing the small businesses multiplier for 2025/26.

The UK tax system remains internationally competitive and one of the best places to grow a business. Commitments to not raise Corporation Tax, as well as assurance over future tax changes, provide businesses with the stability and certainty necessary to plan and invest with confidence.

The Federation of Small Businesses (FSB) “welcomed the record increase to the Employment Allowance for small businesses, as well as the protection for small businesses in England from inflationary business rate hikes.”