I am continuing to campaign on business taxes, which affect the businesses in our communities.
Business rates tax the existence of a business within a building, irrespective of its economic activity. It discriminates against independent businesses in towns, like the Dry Dock in Penzance, and favours out-of-town and online businesses.
The Autumn Statement helped to rebalance the tax burden – revaluing properties so bricks-and-mortar properties will pay less, on average, and out-of-town distribution warehouses more – but this is only the start.
The VAT threshold is another obstacle – businesses nearing the threshold close or slow down their business, especially in coastal communities like Penzance or Scilly. This puts an arbitrary limit on the tourist season, and puts other businesses at risk.
I will use every opportunity I can to push the needs of local businesses up the political agenda.
