Chancellor Philip Hammond urged to avert impending business rates ‘crisis’ as rural businesses hit by dramatic rises
- Credit: PA
Landowners’ leaders have called on the government to avert an impending business rates ‘crisis’ by addressing the problem today, when chancellor Philip Hammond sets out his spring budget.
The Country Land and Business Association (CLA) has warned of a looming rural economic crisis as a result of a revaluation of business properties.
“Rural businesses are suffering because of a clumsy and unfair rates system. From this April, thousands of businesses will see dramatic increases in their rates bill, a problem exacerbated by the political decision to delay revaluation by two years,” said CLA president Ross Murray.
The CLA has set out an action plan, including removal of a ‘cliff edge’ for those whose businesses were below the 100% rateable relief threshold and have now moved above it. It is also calling for a ban on relief for businesses with multiple properties to be lifted.