Alison Griffiths

I commend the hon. Member for South Derbyshire (Samantha Niblett) for her maiden speech. She and I share many interests, not least in technology, promoting women in technology and accessibility. I wish her well. Turning to the matter in hand, the measures in the Bill are in addition to others announced as part of a Budget that has caused serious concern for businesses in Bognor Regis and Littlehampton. Re-energising our high streets has been one of my key priorities, but the Budget pushes us further from that goal. The Government plan to increase employers’ national insurance contributions from 13.8% to 15% and to lower the threshold from £9,100 to £5,000. That will force businesses to pay more sooner. Meanwhile, business rates relief for retail and hospitality will drop from 75% to 40%. Research shows that that will cause a 140% increase in rates, with the average UK restaurant seeing costs rise from £5,051 to £12,122l, a £7,000 hike that could force closures. Those changes come on top of existing pressures caused by covid, the war in Ukraine and energy price inflation. A local business has shared the impact of that on its profit and loss: its freight costs are up 126% since 2019, raw materials are rising by 6%, warehouse rents were up 24% last year, with another 6% rise in 2024, and utility costs were up 58% in 2023. Businesses already stretched thin cannot absorb the additional costs that the Budget imposes. Piling on national insurance contributions and higher business rates alongside steep minimum wage hikes, without supporting productivity and growth, is a recipe for disaster.