Context
There is widespread consensus that growth is essential to the economy. With 800,000 fewer self-employed in the economy post covid and post IR35.
Question
With 800,000 fewer self-employed in the economy post-covid and post-IR35, does the Chancellor agree that increasing the VAT threshold to £250,000 for new registrations would boost growth and be a net gain in revenue terms in the long run?
Answer from Jeremy Hunt
I thank my hon. Friend for raising the support we give to small businesses. As he will know, supporting small businesses, particularly by rolling over the retail, hospitality and leisure business rates discount of 75%, was a major feature of the autumn statement. We will continue to keep under review anything that we can do to help our small businesses.
Not addressed: The Chancellor did not directly address whether he agrees with increasing the VAT threshold to £250,000 for new registrations would boost growth and be a net gain in revenue terms in the long run.
How: Under Review
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