MP hailed in budget speech as ‘champion of the high street’
THE Chancellor of the Exchequer has praised the Southport MP for being the ‘champion of the high street’ - and has revealed that an additional £675million will be put into helping retail businesses across the country.
Last week, Chancellor Philip Hammond revealed that the new measures will see internet giants taxed on online sales and business rates for small business slashed by a third after a successful budget proposal from Mr Moore in July, in which he urged the Treasury to ‘level the playing field’ for the high street.
Mr Hammond specifically cited the Southport MP in his Budget speech, when he said: “If Britain’s high streets are to remain at the centre of our community life, they will need to adapt.
“We support them to do so, responding to calls from across this House, especially from my honourable friends the Members for Southport and for Croydon South.”
He later added: “High streets have been at the heart of our communities for generations. If they are to remain so they will need to adapt, which is why we are backing them with our Future High Streets Fund – and providing support to small independent retailers now by cutting business rates by a third for two years.
“I know that Damien Moore has been a real champion of places such as the historic Lord Street in the heart of his Southport constituency. This budget will help support those local shops and businesses he is standing up for.”
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.
MP Damien Moore said: “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 their financial burden and at the very least will create a more level-playing field between the high-street and online market place.”
Birkdale Ward Councillor Ron Watson added: “The budget contains many component parts that are very helpful to Southport.
“The proposals to cut the business rates for small high street retailers by a significant amount will be a huge help in enabling them to continue whilst at the same time making the adjustments necessary because of changing consumer spending habits particularly the massive growth in internet shopping.”