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MPs Call for Review of Business Rates

East Yorkshire MP Sir Greg Knight is one of a number of MPs who are calling for the government to look at abolishing or reforming business rates.

Sir Greg said: “It is important that the government looks at new and innovative ways of ensuring fairness between the high street and internet retailers. 180,000 jobs were lost in retail last year and this is a problem that predates, but has been made worse by, the Covid19 pandemic.”

Such a move could be made by an adjustment to VAT, which would help the high street by ensuring that tech giants like Amazon and others are taxed more fairly so we do not undermine British high street shops.

Along with other MPs including, Mark Garnier, Huw Merriman, Robbie Moore, Aaron Bell and Tim Farron, Sir Greg is backing calls for a review. The campaign is led by Malton and Thirsk MP Kevin Hollinrake.  Greg says: “We hope this will encourage a review which ministers will engage with.”

“In recovering from the economic and social costs of this pandemic, we need to ensure that online retailers pay their fair share, and we should not penalise high street retailers through an unfair the tax system.”