Commercial property consultants Vail Williams respond to the Autumn Statement in which the Chancellor has let down companies by missing yet another opportunity to tackle the business rates issues that are hindering enterprise:
Linda Staker, Business Rates Partner at Vail Williams commented “The Chancellor stood up in the Commons today with the chance to address the long standing business rates issues which are damaging hard working companies – but he sat down having failed to deliver, yet again. It’s hugely disappointing!”
“The Autumn Statement has taken us no further forward as regards any proper reforms to the current complex, unfair and dysfunctional rating system. We’re now told we must wait until the Budget next spring to find out what we were led to believe would be revealed today. Businesses in all sectors face months of further uncertainty and confusion. They have been badly let down”.
“We’re particularly disappointed because there is so much the Government should have said about business rates reform. Instead it simply repeated confirmation that business rates will be devolved to local Council’s commencing in 2017, being completed by 2020. The only minor concession is the continuation of the small business rates relief at the current enhanced level for a further year”.
“The Chancellor must use this extra time between now and the Budget to create the simpler, fairer and more transparent system with a speedier appeal process which businesses are crying out for. This is what is needed to help the economy grow, to create jobs and investment.”
