As Lizz Truss plans to increase Corporation Tax to an unprecedented 25% it makes it ever harder for businesses to survive large or small.

I am a small business owner of over 6 years, we’ve been through tough times over those last years, but fortunately we made it through and have continued to trade successfully after the COVID pandemic - this rise in CT however poses real cause for concern. Before we see a penny of the money we make we have to hand over 1/4 of that for corporation tax, then VAT and rent, rates, admin and then we have to somehow find the way to pay our wonderful staff the wages they work so hard for, to put food on their table for their kids.

I understand the need to make a change in the current climate, however, how does upping corporate tax promote growth? Simple answer is it doesn’t. There are many small businesses with bigger outgoing than ours, with more staff and more responsibilities, how are they going to cope? They won’t.

Let’s promote real growth by keeping CT at 19% and allowing for organic UK business growth to stabilise the governments own downward spiral. That 6% can be used for staff training, new staff members, equipment, research, technology - the list goes on. But unfortunately with this rise many businesses are unfortunately facing uncertainty and having to scrap plans for their growth, having the opposite effect the government are proposing this will have.

Our small businesses are being punish by the incompetency of our supposed ‘leaders’. How do they sleep at night, easy I suppose with their large bonuses and ability to dodge laws…

Thank you.