Sarah Dyke

Sarah Dyke

Liberal Democrat — Glastonbury and Somerton

Speaking in the House of Commons on 5 February 2025

Debate

Closure of High Street Services: Rural Areas

Contribution

I thank my hon. Friend for giving way so early in his speech. The Overt Locke is an independent family-run retailer that has been trading in Somerton for more than 100 years but has recently announced that it will close. That heartbreaking decision was accelerated by the Chancellor’s decision in the autumn Budget to freeze the small business multiplier and reduce retail, hospitality and leisure business rates relief from 75% to 40%, which, with the addition of the national insurance contributions increase, has made the business financially unsustainable. Does my hon. Friend agree that fundamental reform of business rates is needed to boost small businesses and high streets in rural areas, to avoid penalising productive investment?

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