Southport Takes Centre-Stage In Chancellors Autumn Budget

Southport Takes Centre-Stage In Chancellors Autumn Budget

Internet giants will be taxed on online sales and business rates for small business will be slashed by a third after a successful budget proposal from Damien Moore MP.

The Digital Services Tax will be introduced in April 2020 and will see the government introduce a new 2% tax on the revenues of certain digital business to ensure that the amount of tax paid in the UK is reflective of the value they derive from their UK users.

The Chancellor also revealed a new £675 million Future High Streets Fund for redeveloping high streets, in addition to cutting business rates by one third for small and independent businesses with a rateable value below £51,000.

In July, Damien urged the Treasury to ‘level the playing field’ for high street retailers through a budget submission. On Monday, the Chancellor Philip Hammond specifically cited the Southport MP in his Budget speech.

‘If Britain’s high streets are to remain at the centre of our community life, they will need to adapt. Today, we support them to do so, responding to calls from across this House, especially from…my hon. Friends the Members for Southport and for Croydon South.’ 

On hearing the announcement, Damien Moore MP said:

‘Labour-run Sefton Council has decimated the local economy, here, in Southport, through poor policy and having spent all its money on that dilapidated shopping centre in Bootle. 

‘After years of Labour neglect, I am delighted the Chancellor listened to my budget proposal and has announced these much-needed changes to the benefit of small business in Southport.’

‘These changes will mean that every small shop in our town will save up to £8,000 per year, easing the financial burden placed on them by Sefton Council, and at the very least will create a more level-playing field between the high-street and online market place.’