Business rates to be cut under Labour proposals

Ivan Lewis, Shadow Secretary of State for Northern Ireland, with Josh Fenton Glynn and Leigh Topping and Euan Noble  at Rokt, Brighhouse.
Ivan Lewis, Shadow Secretary of State for Northern Ireland, with Josh Fenton Glynn and Leigh Topping and Euan Noble at Rokt, Brighhouse.

The Labour Shadow Cabinet Minister joined a Parliamentary candidate for the Calder Valley on a visit to ROKT Climbing Gym as Labour announced to cut business rates.

Ivan Lewis MP, Secretary of State for Northern Ireland, took a tour around the climbing centre as Labour said the cuts will feature in its first budget and it will help 9,000 companies in Calderdale.

The proposals are part of Labour’s Better Plan for Small Businesses, which includes action to tackle late payment, reducing unnecessary regulation and establishing a British Investment Bank to boost lending to small firms.

Labour plans to pay for the policy by reversing the coalition’s cut to corporation tax which comes into force this month.

Mr Lewis said: “Our corporation tax level, even after that increase to pay for this support for small and medium-sized businesses, will be still relatively low by international standards so it’s affordable.

“But it also sends out a message that at the moment in terms of our economy small and medium-sized businesses are being squeezed, they are having it tough and the Government’s job should be to help those businesses and support them to be competitive.

“If you think about the local economy in this part of the world it’s absolutely crucial that support is there to enable that to happen.

“What we’ve seen today is amazing and the result of two entrepreneurs investing in business and bringing jobs to the area.”

Labour Shadow Chancellor Ed Balls claimed the party’s plans to cut business rates for small firms would save 167,000 businesses across Yorkshire an average of £400 a year.

Labour plans to pay for the policy by reversing the coalition’s cut to corporation tax which comes into force this month.

Labour Parliamentary candidate Josh Fenton-Glynn said: “In the whole of the Calder Valley there are small and medium enterprises and it’s really important the Government thinks about working for the whole country.”

He also said that improvements in the transport links will help develop businesses with many exporting their products and this would be hit if the country was taken out of the European Union.