Opposition Day: Reducing Costs for Business

Labour recognises that the covid-19 pandemic, energy costs and inflation have put severe strains on many businesses. On Tuesday 11 January 2022 we used our Opposition Day to put forward a motion to reduce costs for business. 

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.