On the 15th of October, Saqib spoke out at the Government’s plans for businesses in a debate in Parliament.
The Shadow Minister, who was the youngest ever Chair of the Greater Birmingham Chambers of Commerce, argues that business need confidence as the new Labour Government takes over. Saqib is concerned about Labour’s Employment Rights Bill which he believes will burden businesses with more red tape and stifle growth. In his speech, he cites the ICAEW confidence monitor which suggests business confidence is down on the third quarter of this year which Saqib claims could set a worrying precedent.
He went on to argue that uncertainty over tax at the Government’s forthcoming Budget is causing deep uncertainty for business. Saqib argued that the Chancellor is yet to rule out a rise in Capital Gains Tax (CGT) or a hike in Employer National Insurance, which he suggests would have a knock-on impact on consumers and the labour market.
Commenting Saqib Bhatti MP said:
“This was a vital debate in Parliament where I highlighted how this Labour Government are undermining confidence in businesses”.
“The Chancellor is refusing to rule out substantial tax rises whilst the Business Secretary is hampering our businesses with more red tape and French-style union laws.”
“Businesses are essential for economic growth and getting more people into good quality jobs. However, this anti-business Labour Government are weaking business confidence and we could see local shops shutting down and a spike in people out of work.”
