Government scraps plan to increase business rates by 5%
April 1, 2009 12:03 PM
Chris Nicholson has welcomed the Government's 11th hour decision to reduce the increase in business rates from 5% to 2% in April.
In February Chris called for the Government to abandon the planned increase - fearing the impact on the many small businesses in Streatham, Brixton and Clapham which are already struggling during the recession.
Chris commented, "I am pleased that the Government has seen sense on this. It was clearly wrong that business rates should go up by 5% because of some arcane formula that the increase is determined by the rate of inflation in September 2008.
"They have left it very late, but better late than never."
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