Business Rates: Retail, Hospitality and Leisure Debate
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Sammy Wilson
Main Page: Sammy Wilson (Democratic Unionist Party - East Antrim)Department Debates - View all Sammy Wilson's debates with the HM Treasury
Business Rates: Retail, Hospitality and Leisure
Sammy Wilson Excerpts(1 day, 12 hours ago)
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Dan Tomlinson
We are seeking to give even more support to those businesses than to the very largest ones. Under previous Governments, there would have been the same tax rate for those businesses, but, because of the changes we put forward at the Budget, the business rates multiplier for the smallest businesses on high streets in Durham and across the country is 25% lower than the tax rate paid by the largest businesses. This is the first significant, fundamental reform to the underlying tax rates in the business rates system in a very long time.
Sammy Wilson (East Antrim) (DUP)
Whether it is retail, hospitality or pubs, businesses right across the United Kingdom, especially small businesses, are failing. That is due in no small part to action by the Government—increased taxes, increased energy prices and increased regulation. Rates play a big part in that, too. Can the Minister assure us that if there is to be further additional money for support, it will be ringfenced and not given to the devolved Administration in Northern Ireland, where the Sinn Féin Minister has taken the money but spent it on something else?
Dan Tomlinson
The right hon. Gentleman raised the issue of small businesses. It is worth nothing that a third of properties pay no business rates at all, as they receive 100% small business rate relief, and that a further 85,000 will benefit from reduced bills as this support tapers away.