Peter Fortune

I regularly meet business owners big and small across Bromley and Biggin Hill. The story is the same no matter who I talk to, be it big franchisees, independent care providers or small family-owned start-ups: British businesses do not feel supported by this Labour Government. Instead, they feel hamstrung by Labour’s tax rises and red tape. The Department for Business and Trade’s budget may be over £3.3 billion, but any business will say that things are getting worse, not better, under Labour. I have lost count of the number of local enterprises who have told me that they have stopped recruiting, and are making redundancies, delaying investment and increasing prices, all after Labour’s tax-raising budget. That should not come as a surprise to the Government. Hiking employers’ national insurance contributions by £25 billion will cost jobs. Imposing reams of new employment red tape will deter businesses from hiring. There may only be one Cabinet member who has started their own business, but this is simple stuff. If they make it more expensive and difficult to hire and grow, businesses will not hire or grow. That is what anti-business, anti-growth Government look like. Labour’s policies are causing economic growth to slow down, unemployment to rise fast and inflation to increase again. Bromley and Biggin Hill has nearly 4,800 small businesses. They are the lifeblood of the local economy. If they thrive, our community succeeds. If they fail, our community suffers. But Labour is making their jobs harder, as it is for small businesses across the country. A new survey by the Federation of Small Businesses shows that a third of small employers plan to cut jobs, with nine in 10 worried about Labour’s Employment Rights Bill. Small business confidence has also fallen to a record low because of the pandemic, with confidence among small firms plummeting more in London than in any other English region. This Labour Government are not helping businesses to deliver economic growth; instead, they are taxing them to the very brink.