Small Teesside businesses say tax rises will be a 'problem' for them

Chancellor Rachel Reeves will deliver the Budget tomorrow

Author: Karen LiuPublished 29th Oct 2024

We are hearing what some people in Teesside are concerned about ahead of tomorrow's announcement by the Chancellor.

Labour's first budget for 14 years will be delivered by Rachel Reeves.

Jawad Mohibi is the owner of Carpaccio Restaurant in Stockton and he said: "One thing I always get in my mind I think are the taxes. If they increase it then for small businesses like ours then it'll become a problem and secondly I think the prices of energy.

"Gas and electric I think is making small businesses crazy. As we're in Stockton, there's a lot of things going on in Stockton and if you survive, we need the budget to be suitable for small businesses. That's what I think will be good.

"I think the first struggle is that so many businesses might close down because they can't afford to continue. If they increase the tax, if they increase the gas and electric and they're not helping these small businesses, that means some can't survive and they'll have to go."

Chris McDonald, MP for Stockton North, said: "We'll hear from Rachel Reeves that the country is in a difficult financial position and probably that means the Government is going to need more money; so there might be issues around tax and there might mean there isn't as much money to go around as well, so intitially that's going to be a bit of a challenge.

"The Labour Government's going to invest as well so we'll invest in our public services, we'll invest in our economy, grow the economy and create new jobs as well. It's going to be a bit of a two halves I think in the budget, there'll be some short-term issues to deal with but invest to grow the economy and invest in to public services for the future.

"What I'm concerned to see for Stockton North and Billingham is that we see investment in areas that will create new jobs, like in green energy, where we have a lot of potential in Billingham and also in life science which will be important for Stockton.

"Crime and the NHS are at the top of list of my constituents concerns. I asked the Prime Minister will we get more police officers in Stockton and Billingham as a result of the budget? and I was given some reassurances on that too. I also put some questions to the Secretary of State for Health about our local NHS as well, so I think we will see improvements in those areas that people are concerned about."

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