Changes are last thing retailers need, says city’s chamber boss
THE “last thing” retailers need is the proposed business rate changes, claims Greater Birmingham Chambers of Commerce – despite reassurances from Local Government Secretary Savid Javid.
Chamber chief executive Paul Faulkner said: “The GBCC has long campaigned for clarifying and simplifying the administration of business rates – due to the ambiguity of the process, small retailers have to pay the biggest share of business rates and are likely to be hit the hardest by changes to the re-evaluation process.
“Over the years, retailers have been hit with a raft of upfront taxes such as the Auto Enrolment Scheme and the National Living Wage, the last thing they need to see is another high up front cost which will divert funds away from investment in training and growth plans.
“There are a number of simple measures which the Chancellor could announce in the Budget next month to boost business confidence and bolster economic growth.
“These include bringing forward the move to peg the multiplier to the Consumer Price Index and simplifying the valuation appeal process, reforms which would free up money for local businesses to invest and expand.
“The Chancellor has said that he is listening to the concerns that have been raised around business rates, and we are hopeful that will be dem- onstrated through actions up-coming Budget.” The Government defended the revaluation, with ministers claiming three quarters of businesses will see rates either fall or stay the same. The Department for Communities and Local Government dismissed claims by campaigners as ‘scaremongering’. However, critics of the revaluation are claiming retailers in some areas could face rises of up to 400 per cent. Midlands MP Andrew Bridgen said some businesses were facing “eye watering” rises and action was needed in the for thcoming Budget to avoid “damaging the economy”.
The last thing they need to see is another high up front cost which will divert funds away from investment
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Paul Faulkner