- This crisis isn’t just leaving millions of families worried sick, sky-rocketing energy bills are threatening businesses across the country.
- This is a national economic emergency. Businesses need solutions now, not a government missing in action.
- That’s why Labour’s plan include support to help businesses and the jobs they create.
- We will protect those businesses most affected by energy prices and give our high street firms the help they need to get through this winter.
- The Conservatives have lost control of the economy with businesses and working people paying the price. Only Labour can give Britain the fresh start it needs.
Labour’s plan for businesses
- Support for energy intensive firms
Labour would establish a £1 billion contingency fund to provide help energy intensive industries like steel, chemicals and ceramics.
- Supporting small businesses
Labour would cut business rates for small businesses in 2022/23 by increasing threshold for small business rates relief from the current threshold of £15,000 to £25,000. This can save local businesses up to £5,000 this year.
We want to provide support right now but Labour will also replace the current business rates system to create a fairer system fit for the 21st Century.
- How we’ll pay for it
Labour’s plan to support businesses is funded by an increase in the Digital Services Tax this year, raising over £2 billion for the most profitable global tech companies