Rachel Reeves has been described as “delusional” after posting on social media that she is “backing small businesses”.
The Chancellor listed a number of measures such as permanently lower business rates for retail, hospitality and leisure (in England) extending the 5p fuel duty cu,t and keeping the lower 19% Corporation Tax rate for companies with profits of £50,000 or less.
Marking Small Business Saturday, she said: “5.6 million small businesses power Britain. They’re the cafés and shops on our high streets, the family firms creating local jobs, and the innovators shaping our future. In the Budget, I set out measures to back them for the long term.
“When small businesses succeed, Britain succeeds.”
However, business owners and others said most of these benefits are being wiped out by higher national insurance contributions, the hike in minimum wages and the continuing high cost of energy.
One said she had “no idea about business”, while others claimed it was an early April Fool.
Senior quality engineer Gavin Williams replied: “How insulting is this statement to all the small to medium enterprises struggling because of the pressures you’ve put on them. You really are out of touch.”
The criticism of the Chancellor’s grasp of issues facing businesses follows a similar tirade against the Prime Ministe who was accused of not understanding how the energy profits levy works.
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