Firms demand business rate cut in Osborne’s Autumn Statement

Tim Wallace
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BUSINESS rates are often higher than rents, squeezing entrepreneurs and giving little benefit in return, the Forum of Private Business (FPB) said yesterday.

The group called for the chancellor to freeze rates in his Autumn Statement in early December, and to commission an independent study into the taxes.

“Ninety-seven per cent of FPB members believe property taxation is too high. In fact, in many areas of the country, business rates are now substantially more than rental costs,” the group said in its submission to the Treasury.

“Businesses are often reluctant to pay rates because they do not readily see the benefits of where that money goes.”

The group also called for more pressure on big firms to pay small businesses quickly.