Business owners in Sussex are expressing concern as they await the chancellor’s upcoming Budget, following significant tax increases from the previous year. Rob Barr, who owns two pubs in Sussex, emphasized the role of pubs in local communities and their historical significance, while highlighting their current struggle for survival. In a letter to local MPs, he stated a need for fair treatment in order to contribute positively to the economy.
The government has acknowledged the importance of pubs and has mentioned measures such as lowering business rates, cutting alcohol duties on draught pints, capping Corporation Tax, and reforming licensing rules. However, Barr, along with others in the industry, is advocating for reforms in business rates, a fairer VAT system, and a reversal of the recent rise in employers’ National Insurance contributions.
Support for these calls came from Anne Ackord, the chief executive of Brighton Palace Pier, who asserted the need for the chancellor to have a broader understanding of the impacts of National Insurance and wage increases. She has noted the necessity for a stable environment to foster growth and the overdue nature of business rates reform.
In response to questions regarding the economic situation, a Treasury spokesperson remarked on the global challenges affecting the economy and reiterated the government’s focus on priorities such as reducing waiting lists and the cost of living.
On a separate note, since April 2017, the two-child benefit cap has affected 8,730 households in Sussex, leaving many families without support for their third or subsequent children. This has led to calls for scrutiny of current policies, especially regarding child benefits and tax thresholds, which some critics argue may inadvertently push more individuals into higher tax brackets.
Additionally, there are discussions surrounding potential new taxes on electric vehicles and changes to council tax bands for larger properties, which could further impact households in Sussex.
Source: https://www.bbc.com/news/articles/cwyv9y0xvzpo?at_medium=RSS&at_campaign=rss