03 Feb 2012
Every special interest group has its budget wish list, and perhaps our call for business rates increases to be capped at 2% will be viewed in this context. What we're explaining to the Chancellor, and what many of our members are telling their MPs, is that setting business rates according to the inflation target, rather than according to last September's spike in RPI, will help deliver jobs an growth for the economy.
Here's why. We know that when our members are hit with increased costs,…
27 January 2012
ACS has launched a campaign to cap the annual business rates increase at 2 per cent, in line with Government targets for inflation.
Annual rates increases are currently based on Retail Price Index inflation figures from the previous September, and with RPI recorded at unusually high levels in 2011, retailers will be faced with a significantly increased rates bill despite forecasts suggesting inflation will have fallen by the time rates are affected.
ACS Chief Executive James Lowman said: “We are encouraging retailers to write to their MP and call on them to lobby the Chancellor to set rates in accordance with the Government’s own targets for inflation. This would save the retail sector over £200million this year and allow local shops and high street stores to focus on sustaining and growing their business.”
