MP: hold off on business rate hike

Wednesday, December 24, 2008

Cleethorpes MP Shona McIsaac has called on the government to offer an exemption from the five per cent business rates hike until 2010.

Cleethorpes MP Shona McIsaac has called on the government to offer an exemption from the five per cent business rates hike until 2010.

According to the Grimsby Telegraph, Ms McIsaac has warned that businesses are already beginning to go under because they cannot afford to pay backdated business rate increases and urged the government to postpone retrieval of the debts until at least the start of the next decade.

The paper explained that many ports businesses in the area are facing large business rates bills and could start going to the wall as early as January.

"I want ministers to look at the real problems that the firms are facing by meeting representatives of some of them directly," Ms McIsaac said.

Last week, international shipping firm DFDS warned MPs that it may have to leave its base in the UK unless the new business rates are amended.

According to the Lloyd's List, the company may begin for a more competitive headquarters overseas.

Source: ask-re The Property People LLP