During Treasury Questions on Tuesday 7th February David Morris MP thanked the Chancellor for awarding Morecambe £50 million for Eden Project North.
Speaking in the House of Commons Chamber David Morris MP said:
May I thank the Chancellor for awarding Morecambe £50 million for the Eden project? It will transform my whole community. My question is about VAT tapering. When I was David Cameron’s small business tsar—a very long time ago—I came up with a formula for VAT tapering. Would my right hon. Friend like to meet me to talk about that further?
In response Chancellor Jeremy Hunt MP said:
First, I congratulate my hon. Friend on his extraordinary campaigning for Eden Project North, which is a model for MPs standing up for their constituencies; he deserves huge congratulations on that. I will happily look at his proposals on VAT tapering. We already have the highest VAT threshold in the G7, but anything we can do to help small businesses, this Conservative Government always do.
Speaking after the question David Morris MP said:
‘I was grateful for the opportunity to thank the Chancellor on record for awarding us £50 million pounds for our Eden Project.
I am also pleased to be able to meet with him to brief him on my idea of VAT Tapering, this will help small businesses grow and will mean that businesses would be encouraged to grow as they will not be hit with as big of a tax bill the moment, they hit the VAT Threshold. When we were a member of the EU we were not able to have a variable VAT rate but now we are no longer Members this is a policy that can be seriously looked at and I believe will help millions of small businesses across the UK.