A government announcement to review business rates has to lead to action at the coal-face – this is the message going to ministers.
The long-called for reform of the current system has to now come sooner rather than later, or businesses will have more discontent in years to come.
President of Bradford Chamber, Paul Mackie, said: “It is good to see that the government is looking at a wide-ranging review of business rates, as this iniquitous tax hammers businesses across the country, before they’ve even made single pound in profit. The government is asking a lot of important questions in this review – for business however, actions speak louder than words. Unless a root and branch reform of business rates is delivered at Budget 2016, business will regard this as a missed opportunity to tackle a huge brake on investment and growth.”
Several concerns raised by the British Chambers of Commerce in earlier submissions are included in the government’s planned review of business rates, including:
- the need to learn from overseas jurisdictions,
- the need to ensure that rates reflect the wider economic conditions
- the impact of rates on business investment
The BCC’s Business Manifesto: A Business Plan for Britain calls for a comprehensive review of business rates.