Moore glad to see rate cuts and online tax
INTERNET giants will be taxed on online sales and business rates for small business will be slashed by a third after proposals from Southport MP Damien Moore.
The Digital Services Tax will be introduced in April 2020 and will see the Government introduce a new 2% tax on the revenues of certain digital business to ensure that the amount of tax paid in the UK is reflective of the value they derive from their UK users.
The Chancellor, Philip Hammond, also revealed a new £675m Future High Streets Fund for redeveloping high streets, in addition to cutting business rates by one third for small and independent businesses with a rateable value below £51,000.
In July, Mr Moore called for the Treasury to ‘level the playing field’ for high street retailers through a budget submission.
On Monday, the Mr Hammond cited lobbying from Mr Moore and Chris Philp, MP for Croydon South, when discussing the importance of protecting the high street during his Budget speech.
Responding to the announcements in Parliament, Mr Moore welcomed the support of cutting business rates for small businesses.
He said: “One of Britain’s, and indeed Southport’s, strengths are the small businesses that provide the majority of jobs in the private sector. One of the benefits of being the Member of Parliament for Southport is that I get to meet some extraordinary entrepreneurs and small business owners.
“They are the people who form the backbone of our economy, and over the past year I have had the pleasure of meeting many of these hard-working individuals.
“I therefore deeply welcome the new tax reforms set out by the Chancellor in his Budget speech, which will provide unparalleled relief to many small business owners in my constituency.
“However, things have been all the more difficult for small businesses in Southport because they are having to work without the support of Labour-led Sefton Council, which is more interested in punitive charges than in building a strong economy.
“Lord Street, in particular, is suffering under the Labour council, but it is now set to be handed a fighting chance under this Conservative Government and this autumn Budget.’’
Mr Moore added: “I welcome the announcement in the Budget to provide up-front support through the business rates system, cutting bills for retail properties with a rateable value of below £51,000, which will benefit 90% of retail properties. I also welcome the addition of the £675m future high streets fund. That means that someone running a small business will see their tax come down by a third and their high street restored.
“It is not just about getting out of the way of small business but about standing up for those specific issues. It is about making sure that those same small businesses are not disadvantaged by an overbearing digital marketplace that is not paying its fair share – a real David and Goliath battle.
“I was therefore delighted to hear in the Chancellor’s statement that the Government will introduce a new 2% tax on the revenues of certain digital businesses to ensure that the amount of tax paid in the UK reflects the value they derive from their UK users, ensuring an even ground between businesses on our high streets and online.’’
The MP concluded: “It is not Amazon or Facebook that are the lifeblood of this country; it is the small businesses in constituencies like mine.”
Southport MP Damian Moore was cited in the Budget his for lobbying