Government defends Business Report against GSD criticism

The Government has defended the Business and Office of Fair Trading Annual report and accused GSD MP Craig Sacarello of misrepresenting both data and context.

It says the fall in property transactions from 2023 to 2024 reflects global market trends, rising interest rates, and buyer caution ahead of the UK-EU treaty.

It notes the property tax did not apply during the reporting period, and that sales still totalled hundreds of millions of pounds.

On inspections, the Government objects to Mr Sacarello saying there had been a drop in consumer protection inspections, pointing out that the previous year’s higher figure was inflated by a specific campaign targeting vape sellers.

It says this year’s focus shifted to unlicensed businesses and targeted investigations, and that digital compliance checks, not reflected in the raw inspection count, were also expanded.

Business Minister Gemma Arias-Vasquez says a record number of business licence applications, including nearly 800 new ones, reflect “clear entrepreneurial energy”, but the Opposition prefers “negativity and point-scoring.”