MPs have warned that UK small businesses are currently under “pandemic-style pressures,” with rising costs and tax bills pushing many to the brink.
In a report published last week, business ministers called for urgent reform to provide SMEs with VAT and business rate relief, as well as financial and civil support.
“Findings from the business and trade committee said that without action to address higher tax and energy bills, increasing crime and issues with late payments, the government risked accelerating business closures and ‘hollowing out’ the high street,” reported Propel.
“The MPs are calling for urgent reforms including overhauling business rates, reviewing the VAT threshold, strengthening policing and introducing further support for small and medium-sized enterprises struggling with higher taxes and energy bills.”
The committee also recommended improving transparency in regards to commercial property ownership, as well as cash injections to help local councils undertake high street regeneration.
“High streets do not die by accident,” said committee chair Liam Byrne, warning the current challenges represent a “real risk to business viability, high streets and economic growth.”
“If the government is serious about growth, it must set out a more coherent and ambitious plan for the businesses that make up so much of the UK economy.”
Originally published on Coinslot on February 23, 2026. Republished with permission.