Member

Turning to Lords amendment 13B, we confront yet another symptom of Labour’s ill-conceived assault on business. Picture this: a thriving firm with premises valued at £495,000 dares to invest in its future with, perhaps, a modest expansion, new equipment or a refit to stay competitive, and that ambition tips its rateable value just over the £500,000 threshold. What is the reward under the Bill? A staggering jump in business rates from roughly £175,000 to £325,000—a near doubling of its tax burden overnight. That is not fairness; it is a trap and a punitive cliff edge that snares the aspirational and mocks the very notion of fairness.