Radical reform of Business Rates needed in wake of Trump tariffs, says Helen Morgan

Helen Morgan, MP for North Shropshire, has launched a ‘Buy Shropshire, Back Britain’ campaign to support local businesses in the wake of Donald Trump’s tariffs announced this week.

Helen pushed the Leader of the House of Commons, Lucy Powell, to hold a debate on how to ‘radically reform’ the business rates system – voicing concerns that the National Insurance and Business Rate hikes happening this week could drastically impact high streets.

Helen said that people should “rally round” local businesses at risk from the economic shock caused by Donald Trump’s disastrous trade war, including local producers and high street shops.

The Liberal Democrats are also calling on the Government to come forward with a raft of measures to help businesses stay afloat and protect North Shropshire’s high streets, including scrapping the jobs tax and overhauling business rates.

Further distress has been caused to farmers in Shropshire after it was reported in the Times that tariffs on US beef, chicken and pork would all be slashed in a proposed agreement between Trump and the UK. It risks undercutting farmers once more in a deal following the Conservatives disastrous Australia and New Zealand deals for farmers.

Agricultural businesses that dominate North Shropshire were already under severe pressure after years of neglect the previous government, and now nearly 300 of those are set to be hammered by the Chancellor’s Inheritance Tax changes next year.

It was recently estimated that Trump’s tariffs could wipe out up to 1% of GDP which would push many British businesses to the wall. The measures announced by the US President on Wednesday night will see 10% tariffs on UK exports and 25% tariffs on all automotive exports to the US.

The Liberal Democrats have outlined a number of steps the Government should already be taking to back British businesses in the face of Trump’s tariffs and stagnant economic growth. They included scrapping the growth-crushing jobs tax coming into effect in the coming days and overhauling the broken business rates system to unleash the growth potential of our high-streets and manufacturers.

Helen Morgan, Liberal Democrat MP for North Shropshire, said, “People here in North Shropshire are deeply concerned about the impact that Donald Trump’s disastrous trade war could have on our living standards and local businesses.

“That is why I am launching a ‘Buy Shropshire, Back Britain,’ campaign, to encourage people to play their part in supporting our fantastic local businesses and high street shops at this difficult time.

“This needs to include our brilliant Shropshire farmers – the backbone of our economy – who are at risk of once again being clobbered by a trade deal that effectively sells them out, just as the Conservatives did.

“We need the Government to unleash the potential of our local high streets by reforming business rates, and dropping their jobs tax which is set to hammer businesses in the coming days.”