Business

Top Tory Peter Luff chats with Brian Eastman from the Federation of Small Businesses, left, and Conservative candidate Alok Sharma
advertisement

‘Local business needs help now’

By Paul Robins
February 04, 2009

Chairman of the influential business and enterprise select committee came to Reading to meet local businesses.

Peter Luff MP was invited to the meeting organised by Conservative prospective Parliamentary candidate for Reading West Alok Sharma on Thursday last week.

As well as business owners, Mr Luff met Brian Eastman, who chairs the Federation of Small Businesses Reading and West Berkshire branch, FSB co-ordinator Karen Durcan and Tim Evans, chairman of the Thames Valley Economic Partnership.

Mr Luff said after the meeting: “I came here today to support Alok Sharma, our excellent Parliamentary candidate for Reading West, and also, as part of my work as business and enterprise committee chairman, to listen to local businesses and understand what can be done to support them through some very difficult economic times.

“It has been a very constructive discussion and I have noted the issues which have been raised by local businesses.

“The Conservatives have already proposed a number of measures to help businesses such as our proposal for a £50 billion National Loan Guarantee Scheme which will get credit flowing and save jobs; our proposal to reduce employment costs for small businesses by cutting National Insurance and through a tax break for new jobs and our proposal to help small businesses with cash flow by delaying VAT bills for six months.”

Mr Luff continued: “I have teamed up with the FSB to help small businesses and am sponsoring a private members’ bill, the Small Business Rate Relief (Automatic Payment) Bill, to ensure that rate relief applies automatically for small firms.”

Mr Sharma said: “While the Reading economy is relatively resilient we are not immune to the recession and sadly are seeing rising levels of job losses and repossessions locally.

“Small and medium sized businesses are the lifeblood of our communities and more needs to be done to help them and ultimately protect local jobs.

“The Government has just been too slow in reacting – local businesses need help right now.”

| Submit Comments | View Comments (1)

« Previous Story | Next Story »

Most recent user comments 1 of 1

Show 15 | 25 | 50 per page

I applaud the initiative shown by Conservative MP Rob Wilson and Parliamentary candidate for Reading West Alok Sharma (Reading Post Monday 5th Jan) in their efforts to encourage small/medium enterprises to apply for rate relief. Disturbing information about Brown’s competence at helping small businesses has been exposed as a myth, (Freedom of Information Act) with thousands of jobs at risk. Companies with annual profits below £10K paid no corporation tax. Now, despite the credit crunch, they must pay the small-companies rate of 21%. This means the least profitable companies will face extra tax of £3,483; this is three year’s equivalent to 10 months profits. This prejudices employers’ ability to sustain their businesses and put their employees’ jobs at risk. Firms with profits between £10k and £50K will have to pay £6,194 extra by the end of 2009 because of abolition of the marginal starting rate relief from corporation tax. Close examination of the details of Brown’s much trumpeted help for small business entities is just a mirage. The funds injected into helping small business enterprises (SMEs) only amounts to 0.1%to 1% of what is actually needed. Apparently Brown by burdening businesses with further tax, evidently doesn’t comprehend the mechanisms of business tax accounting and the necessity to maintain good credit lines with banks The electorate can see through Brown’s fraud because job losses are mounting at a truely alarming rate. The situation is critical and desperate with lack of confidence and a failed fiscal stimulus with 280 small businesses closing every week. The situation is absolutely dire, with business closures and real job losses. He must implement the Conservative idea of a Government backed loan guarantee scheme between banks and businesses. If Brown thinks he is doing such a good job, he should call an early Election and let the electorate decide on his so called economic competence.