Budget Resolutions — Amendment of the Law

Part of the debate – in the House of Commons at 6:48 pm on 17 April 2002.

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Photo of Jim Knight Jim Knight Labour, South Dorset 6:48, 17 April 2002

Prior to being elected, I was the manager of a small business in Wiltshire. I know that the 2,000 small businesses in my constituency will be delighted with the changes in VAT in the Budget. The flat rate for VAT for businesses whose turnover is currently less than £100,000—extending to 750,000 in April—is tremendous news for our small businesses.