ACS has welcomed indications that the Chancellor will take significant steps to reduce the burden of business rates for small shops.
A number of news outlets are reporting this weekend that Monday’s Budget will include the announcement of significant extensions to small business rate relief to include stores with a rateable value of up to £51,000.
ACS chief executive James Lowman said: “Extending small business rate relief would be a huge boost to small shop owners across the country, and we’re delighted that the Chancellor has listened to their concerns and taken decisive action to reduce the burden of business rates following big increases in recent years.
“We hope that the Chancellor will include in this policy retailers with a number of stores who cannot currently benefit from this rate relief. We also need to continue the debate on how the business rates system can promote investment in stores so they can compete in a rapidly changing retail environment.”
ACS’ submission to the Treasury, which includes arguments for business rate reform, is available here.
