STOP CRUCIFYING LOCAL BUSINESS SAYS NICK HARVEY
March 10, 2009 2:58 PM
The Government's intention to raise business rates next month has met with universal condemnation from property owners and the retail industry. It is estimated that the Government will collect £24 billion in business rates with retailers accounting for 25 per cent.
Nick Harvey, MP for North Devon, says:
'The increase in business rates could not come at the worse time for retailers - sales are sliding and businesses are going to the wall.
'It is ridiculous also for property owners to have to pay a tax on empty properties in the current economic climate.
'It will affect retailers at every level including shops and businesses here in North Devon.
'I for one will be adding my voice to the growing clamour and be lobbying the Chancellor to see sense before further harm is done to our economy.'
The retail industry is calling for a postponement or even cancellation of the proposed 5% business rate rise. This increase was based on the retail prices index from last September; this is no longer viable in light of the decrease in the index which it is feared may turn negative.
However, the Government argues freezing business rates for 2009-10 would lose the Exchequer £1 billion.
The British Retail Consortium has called for an immediate freeze of the business rates.At the beginning of the year the BRC said the revaluation of business rates would be the equivalent to the average salaries of over 100,000 shop workers.
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