I am deeply concerned about the Labour Government’s economic policies, which are threatening the very survival of family businesses across Worcestershire and the whole of the UK. After attending yesterday’s Opposition Day debate in the House of Commons, I fully support the remarks made by Shadow Chancellor Mel Stride, who highlighted the damaging impact of Labour’s decisions on taxation and regulation.
Having spoken to many local businesses and farmers in my constituency, it is clear that Labour’s decision to introduce a cap on Business Property Relief is a direct attack on family-run businesses, forcing many to face inheritance tax bills for the first time in 50 years. This ill-thought-out measure could lead to the break-up of long-established firms that have been passed down through generations, harming not only individual businesses but also the jobs and communities they sustain.
At a time when businesses are already struggling with Labour’s tax hikes and unnecessary red tape, the Government’s actions are further damaging confidence. National Insurance increases, cuts to business rates relief, and the threat of regulatory overreach are creating an uncertain and hostile environment for business owners. I have received a significant volume of correspondence from a range of sectors within my constituency including leisure and hospitality, charities, GP surgeries, hospices, and the care sector, all of whom have raised concerns about the Government’s economic policies. I have raised these concerns with the relevant ministers and will continue to hold the Government to account.
The Conservative Party stands firmly with family businesses, which employ almost 14 million people and contribute over £200 billion in taxes each year. Labour’s betrayal of the business community is already having dire consequences, with confidence plummeting and companies considering moving investment elsewhere.
We are calling on the Government to reverse its most damaging policies: lift the cap on Business Property Relief, scrap planned National Insurance increases, halt reductions in business rates relief, and abandon the restrictive provisions in the Employment Rights Bill that threaten job flexibility.
Labour came into office claiming to be the ‘natural party of business,’ but in just seven months, they have proved the opposite. This is the most anti-business Government in modern history, and the consequences are already being felt. The Chancellor must use the upcoming Budget to change course before even more damage is done to our economy.
