Calls increase for business rate freeze


The Chancellor of the Exchequer, George Osborne, is finding himself under an increasing level of pressure to freeze business rates.

Any such move would undeniably help small to medium-sized enterprises (SMEs), with the charge now apparently overtaking rents as the largest cost faced by retailers.

The Treasury currently rakes in around £25 billion per year from the tax and SMEs are now calling on Mr Osborne to help promote their growth by stopping it from increasing over the next two years.

Last year, one in seven firms in England were thought to have been summonsed over unpaid rates – which are collected by local councils.

Next April, the tax is set to increase by a further 3.2 per cent, despite it having already been bumped up by almost 23 per cent in the past five years.

What are your thoughts on business rates? Would a freeze make a big difference? Will George Osborne listen to those calling for something to be done?

Posted by the Secret Businessman