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Justine Greening highlights £100m tax bombshell for small businesses

SNN1212G_280_705338a Shadow Treasury Minister Justine Greening MP has unearthed data which shows small firms will be hit by a £100m tax hike as transitional relief for higher local business rates comes to an end.  The Sun has the story.

Ms Greening issued this statement:

"Government is finally admitting the true cost of repeated tax rises on small companies. "Despite attempts by Government to deny figures existed, we can now see that up to 100,000 small companies will be hit by the decision to end transitional relief a year early. Some will suddenly face a decade's worth of accumulated bills in the middle of a recession. Far from helping companies out of the recession, Government is helping to drive them out of business."

Ms Greening wins this endorsement for her efforts from The Sun Says:

"Small businesses are the backbone of Britain. Today thousands face disaster because of a huge rise in their tax bills. In 2005, the Government carried out a rates revaluation of the premises of 100,000 small outfits such as local stores and family firms. But the impact of huge rises was postponed. Now, at the worst possible moment, the Government intends to hammer small firms for the full amount. Many face rises of £1,000 and more over the next three years. Unless sense prevails by delaying the rises again, many stores and firms will have to cut staff or even close. If we can save the banks, can't we save the corner shop?"

I've included this 'media hit' on our rolling blog that has been recording the coverage achieved by shadow ministers during August.

Tim Montgomerie


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