Local Businesses to be hit by 5% Business Rate increase in April (Chris Nicholson)

Local Businesses to be hit by 5% Business Rate increase in April

February 4, 2009 10:38 AM

"At a time when many local businesses are facing very challenging trading conditions, paying an extra 5% on the business rate in April will be a real body blow" said Liberal Democrat Parliamentary Spokesperson for Streatham Chris Nicholson.

"Talking to local businesses, such as small shopkeepers on Streatham High Road, the costs which they say really impact their business are rents and rates. Many will be shocked that the Labour Government are planning to put up their rates by 5% in April. At a time when Government is finding tens of billions of pounds to bail out the banks and other large businesses the Government should be able to find the money to cut this increase. Once again small businesses, the lifeblood of our economy, are being hit hard. I am really fearful about the effect on businesses on our High Streets in Streatham, Clapham and Brixton, where there are already too many empty shops".