Opposition Day: Reducing Costs for Business

On Tuesday 11 January 2022 I voted on Labour’s Opposition Day motion on reducing costs for businesses.

Labour recognises that the covid-19 pandemic, energy costs and inflation have put severe strains on many businesses. Our motion called on the Government to replace the unfair business rates system, and give struggling businesses more flexibility on repaying Government loans. It also called for the introduction for a £600 million contingency fund for businesses struggling with soaring energy prices. Paid for by a one-off windfall tax on the profits of oil and gas companies drilling in the North Sea, the fund would be especially helpful to energy-intensive industries like steel.

I voted in favour of the motion, which passed: Ayes 219 and Noes 0.