In his first major speech since being appointed as shadow chancellor by Conservative leader Kemi Badenoch at the end of August, Andrew Griffith has warned the Labour Party against raising taxes and increasing regulatory burdens on small businesses. Griffith, a member of the opposition Conservative Party, argued that small businesses are already over-taxed and that the complexity of the tax system itself acts as an additional burden. He criticized Labour's proposed policies, including a new "jobs tax" and higher business rates, for harming small businesses and adding to their operational challenges. Griffith highlighted that the average small business spends more than a full working week each year dealing with government paperwork related to taxes. He called on Labour leaders Andy Burnham and John Healey to commit, in the upcoming Budget, to not raising taxes or introducing new levies, such as an "exit tax" on businesses leaving the country. Griffith also announced the creation of a taskforce to explore ways to simplify the tax system and ease the administrative burden on small businesses. The taskforce, led by Conservative peer Lord Mackinlay of Richborough and former Conservative MP Robert Colvile, aims to identify reforms that would make tax compliance less onerous for small businesses and the self-employed. This follows concerns raised by the Federation of Small Businesses, which estimates that the sector faces a combined annual cost of £25 billion due to tax compliance, with business owners spending around 44 hours each year on tax-related paperwork. Lord Mackinlay emphasized that small businesses and self-employed individuals form the backbone of the UK economy but have been unfairly burdened by excessive regulations and taxes. He argued that these businesses should not be penalized simply for trying to operate and contribute to the economy. The formation of the taskforce signals a focus on addressing these concerns and finding practical solutions to support small businesses moving forward.