Yesterday Graham Stuart voted to scrap business rates for thousands of high street businesses to boost local shops, pubs and restaurants. Meanwhile, 310 Labour MPs voted to keep taxing them.
Speaking during the debate on ‘Supporting Our High Streets’ Graham drew a clear line between the two parties’ approaches to business.
He said: “From the day you start your business until the day you pass it on, Labour sees a target to tax. By contrast, Conservatives see a dream to back. Labour makes it harder to start a business, takes more from you as your grow, and leaves a tax bill for your children when you’re gone.”
Graham highlighted that under a Conservative-led Government, the number of businesses in the UK grew by 1.1 million between 2010 and 2024. They chose to empower our small businesses and aspiring entrepreneurs rather than burden them with higher taxes and red tape.
He called for greater support for young entrepreneurs, referencing a conversation with Viki Foster, Careers Leader at Withernsea High School. She stressed the value of the right business support in schools, and the potential for schools to do more with the right resources.
Graham outlined Conservative plans to launch business challenges in schools, create entrepreneur-led mentoring programmes, and offer seed funding to help young people turn their ideas into start-ups.
Later in his speech, Graham criticised the Chancellor’s first Budget, which raised business rates on high street firms by 140%. He gave the example of the Crown and Anchor in Kilnsea, whose tax bill has more than doubled from around £4000 to £9000 a year. As a result, owners David and Adrian will work longer hours over Christmas, missing time with their families, while a student loses out on a Christmas job.
Graham is also concerned about Labour’s plans to cut Business Property Relief, which currently allows family businesses to be passed on to their children tax free. Labour’s plans, due to take effect next April, would tax anything above £1 million at 20%.
For a family pharmacy worth £3 million, this could mean a £400,000 tax bill just to keep the business in the family. According to the CBI, this would cost the Government £1.8 billion and risk over 180,000 jobs over the next four years.
Graham Stuart, Member of Parliament for Beverley and Holderness, commented: “This isn’t about politics, it’s about the pupils at Withernsea High School who dream of opening their own shop, the bartenders at the Crown and Anchor who pour the pints as friends catch up on a Friday night, and the families who want to carry on their parents’ legacy when their gone. These are the risk takers, the innovators, the strivers who power our economy and enrich our towns. These are the people we back, and they tax. Because when Conservatives lead, enterprise wins, and Britain wins too.”
Adrian and David, landlords of the Crown and Anchor in Kilnsea, said, “As fans of politics, it’s great to have the backing of our MP, and all the more so since he’s supported us with getting a bus stop and during Covid.
“We love running the Crown and Anchor as a community pub and do all we can to help the community, as so many village pubs do.
“Hopefully Graham can help the government see sense and U-turn on their anti-pub measures!”
