Above inflation increases for business rates

Monday, November 16, 2009

Conservative MP outlines Labour's election 'bombshell'.

By Ashley Brunskill

Business rates will rise for companies in the Basildon District if the Labour government is elected for a fourth term, it has been suggested.
Conservative MP John Baron has said that the new Labour Party manifesto outlines proposals to introduce above inflation increases in business rates and taxes.

He said: "This Labour government has added more to the country’s debt than all previous governments combined. Residents are paying more and getting less under this Labour government."

He added that this was part of the bombshell that would explode after the general election.

Business rates are currently linked to inflation but the new propsosals look set to change that and may be bad news for businesses that are already working hard to beat the current economic crisis.

It was reported last week that Michael Portillo stated that local authorities would be allowed to keep all of the business rates that were generated from new developments under the Conservatives.

Source: ask-re The Property People LLP