LOCAL MP QUESTIONS CHANCELLOR OVER VAT RATE CUT
February 23, 2009 11:17 AM
Greg Mulholland, MP for Leeds North West, questioned the Chancellor Alistair Darling on the floor of the House of Commons today about the impact of VAT cuts on small business.
Raising the case of his constituent Denise Harrison of Complete Image (hair and beauty salon), Greg highlighted that for many small firms such as Complete Image, the costs of actually re-printing their price lists and associated costs in the wake of the VAT cut would actually cost them more in revenue than the cuts would generate. Indeed, the Federation of Small Businesses said on Monday that the VAT rate cut has had 'little or no impact'.
Greg is also currently going round and meeting with small businesses in his constituency to discuss their concerns.
Commenting Greg said:
"The VAT cut has proven to be what we knew all along - a headline grabbing gimmick that has provided no help whatsoever to small businesses.
"The Government must stop issuing knee-jerk policy announcements just because it is desperate to create the impression that it is in control of the economic crisis, and actually put forward real measures to help small business.
"If they don't then there is a real risk that many small businesses will simply not be able to survive."
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