South Lakes MP Tim Farron has today called for a fresh review of business rates after complaints from local businesses.
Last year, Chancellor George Osborne announced his plan to postpone the review of business rates until 2017. This would leave retailers paying rates which have seen a 13% increase in just 3 years. A revaluation in the next couple of years could mean those with decreasing rents will also see a significant saving; as business rates are brought in line.
The impact of business rates was raised with Tim at a round table meeting with local businesses last month. Tim has joined Business Secretary Vince Cable MP in pushing the issue within government to make sure that businesses get a fair deal.
Tim said: "I am hugely impressed by local businesses who are helping us to buck the trend in our area. Business people here tell me that they want to see business rates made fairer , and I am determined that this should happen. Lower business rates would make a massive difference to local businesses."
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