Member

We are already seeing rising insolvency rates among small firms, business confidence is plummeting and unemployment remains stubbornly high. Against that backdrop, this is not the moment to extend further costs and uncertainty to smaller employers and to charities delivering essential social goods. In Committee, I did not feel the Minister fully grappled with that reality. I hope that, today, he can demonstrate that the Treasury has reflected further on the cumulative impact on SMEs and charities, and explain what assessment has been made of the real-world consequences. If the Government truly want to stand with small businesses and the voluntary sector, they should have no hesitation in supporting that exemption amendment.