Business rate revision delay debates in the Commons
31st October 2012 | NewsMPs were set to debate, and vote on, last night (October 30th) delays to a revision of business rates until 2017 amid fears it will cripple small businesses on the high street.
Opponents say that pushing back the 2015 date by two years would saddle small-shop owners with even higher taxes, at a time where retailers are struggling.
The Daily Mail reports that a delay would keep rates pegged at 2008 levels, while a revision would bring them down in line with declining rents.
Simon Danczuk, Labour MP for Rochdale, is quoted by the news provider as saying that it is time for the government to stop piling more pressure onto retailers.
"Business rates are a massive issue for small businesses and particularly those on the high street," he explained. "The government had a windfall from the business rate rise but it is squeezing businesses."
It comes only days after the British Retail Consortium announced that employment grew by 2.9 per cent in the third quarter of the year.
Posted by Thomas Fletcher