Business Rates
Debate between Dan Tomlinson and Helen Morgan(4 days, 8 hours ago)
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Dan Tomlinson
I am always happy to look at and respond to the correspondence I receive from hon. Members. I am aware of the issue my hon. Friend raises, which she has been consistently raising in this House. We came forward at the Budget with a significant package of support, and many small and independent businesses are small enough not to pay business rates because we have the small business rates relief in place, and we are extending that relief to support businesses that could extend to a second premises.
Helen Morgan (North Shropshire) (LD)
I declare an interest in that my husband works for an independent wine merchant.
Today’s news will be very welcome for the many pubs in North Shropshire that have been pushed to the brink over recent years by national insurance contributions increases, high energy bills and now business rates. However, this will not help shops or hotels such as the lovely Pen-y-Dyffryn in my constituency, the rateable value of which has nearly quadrupled. Will the Minister outline the timeline for his review of hotels in particular, and what other help can be given to retail and hospitality businesses?
Dan Tomlinson
We want to work with the hotel sector on the review I have announced today. We will make sure it reports in time to be implemented by the Valuation Office Agency by the date of the next revaluation. For hotels at the very far end of the distribution of changes in rateable value—with an increase that large, I believe the one the hon. Member mentioned is—that is precisely why we have implemented the support we have. If it is worth less than £100,000, its increase will be capped at 15% this year; if it is worth more, its increase will be capped at 30%. We are aware that that is still an increase, but it is significantly less than it would have been if we had not stepped in to provide that support.
Agricultural Property Relief and Business Property Relief
Debate between Dan Tomlinson and Helen Morgan(3 weeks, 5 days ago)
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Helen Morgan (North Shropshire) (LD)
The psychological impact of the past 14 months has been profound in rural places like North Shropshire. At every primary school visit that I have made in the past 14 months, I have been asked by children as young as seven or eight to confirm that I oppose the family farm tax, because it is having a devastating impact on their families at home. The uncertainty has also had a devastating impact on related businesses, such as agricultural machinery suppliers. It will continue to have an impact by making business owners deliberately keep their businesses small so that they do not have to pay inheritance tax, because they cannot sell off part of their farms as they will no longer be viable. Why are the Government continuing with this daft policy of restricting growth in rural areas?
Dan Tomlinson
The Government want to support growth and investment in rural communities. That is why we are putting in £11.8 billion of support over the course of this Parliament and ensuring that we improve our economy and our economic fortunes across the board as a country after the chaos of the last 14 years. We have had six interest rate cuts in a row, borrowing costs are coming down, and inflation is falling faster than people forecast—it is now forecast to continue to fall. All those long-term changes to improve our economic outlook will support businesses in rural communities and communities across the country.