BPF outlines measures to tackle business rate rise

The British Property Foundation (BPF) has outlined to the government what it believes needs to be done to help small businesses on the high street.

Working with the British Council for Shopping Centres, the organisation said that ministers should cancel its planned postponement of revaluating business rates.

Furthermore, it says next year's proposed rise of 2.6 per cent should be reduced to two per cent, which is in conjunction with the Bank of England's inflation target.

MPs debated the subject in the Commons earlier this week and concluded that business rates are "killing" the UK's retail sector.

Mark Spencer, MP for Sherwood, said that "one issue on high streets in my constituency is that landlords are having to pay business rates on empty properties and therefore do not have the cash to invest in those properties in order to attract new tenants".

Ahead of the debate, Simon Danczuk, Labour MP for Rochdale, said that business rates are a "massive issue" for small businesses.

Posted by Thomas Fletcher

Date published 1 Nov 2012 | Last updated 1 Nov 2012