MP for Central Devon, Mel Stride has said businesses are right to be concerned about the incoming ‘Jobs Tax’.
The comments from the Shadow Chancellor come following a tour of one of the region’s most celebrated local businesses - Tors Vodka in Okehampton.
Despite their remarkable success - winning Gold in the prestigious Taste of the West Awards, for three consecutive years - the founders of Tors Vodka told Central Devon’s MP that scaling their business is becoming increasingly difficult due to rising taxes and escalating costs.
Following the visit, Central Devon MP, Mel Stride said: “As an entrepreneur, who has built businesses from the ground up, I understand the difficulties small businesses like Tors Vodka are facing.
“While it’s wonderful to see these local businesses gaining national recognition, it’s concerning to see how much harder it’s becoming for them to grow. Tax rises and increasing costs are crippling growth and creating significant barriers for entrepreneurs. Small businesses are the lifeblood of our economy, but these rising costs threaten their survival.”
The government’s national insurance rise will see businesses paying an additional £900 per employee for the average worker from April 6.
Mr Stride added: “The government needs to create an environment where businesses like Tors Vodka can continue to succeed, provide employment and contribute to the success of Central Devon for many years to come.”
Tors Vodka founders, Jonathan Bright and Edward Baily said: “It was great to welcome Mel to Tors Vodka, especially after he reached out to congratulate us following our Platinum and Gold wins. We really appreciate him taking the time to listen and understand the challenges we face. We’re in a fantastic position for growth, but ever-increasing taxes on the alcohol industry continue to hold us back - impacting both business expansion and job creation.”
