As the MP for Stockport, I am calling for more support for small businesses. According to the Federation of Small Businesses, SMEs make up 99% of the business population in the UK.
Small businesses are crucial to the local community and our local high street. Labour has recognised the support that small businesses need to recover and thrive. This is why the party has pledged to cut and eventually entirely scrap business rates, replacing them with a new form of business taxation fit for the 21st Century. This would support small businesses rebuild after the pandemic and would level the playing field between online giants and bricks and mortar businesses.
I know that local businesses have faced massive adversity over the last 18 months, and now face further challenges like rent debt, supply chain issues and soaring energy costs.
Labour understands the support that small businesses need, and this is why we have pledged to scrap business rates and replace it with a fairer alternative. This will be the biggest overhaul of business taxation in a generation, supporting our small businesses to rebound from the pandemic, while balancing the playing field between bricks and mortar businesses and online giants.