MP Calls For Government Review Of Business Rates
Huge business rate increases planned for this coming financial year could deal a massive blow to the future of South Devon's small businesses who are already struggling to stay afloat in this difficult economic climate. And it's not only an increase in rates they have to face but many of them will lose their rate relief because of revaluation.
Teign MP Richard Younger-Ross said, "many small business could be facing increases in their rates of more than 50%. The revaluation was calculated by the Valuation Office in April 2008 on the basis of property values but that was two years ago before the recession began and the economic climate took a turn for the worse.
"The Chancellor has announced short term measures to help some small businesses but this does not address the bigger picture such as concerns over revaluation. I am urging the Government to review the situation in light of the current economic situation to ensure that all small businesses are properly protected."
If you would like to show your support for small businesses, you can find an on line petition on this website.