Chancellor urged to continue temporary rates relief

INCENTIVES that were introduced to help small businesses and retailers should be extended, a Birmingham-based ratings expert is urging.

David Cureton, head of rating at Birmingham chartered surveyors Johnson Fellows, said extending temporary would help to provide extra stability for the next couple of years and he is calling on Chancellor George Osborne to announce such a measure in next week’s Autumn Statement.

“We’ve seen the green shoots of growth over the last couple of years and I’d very much hope that the Chancellor of the Exchequer will recognise the benefit of the measures and extend them further,” he said.

“A General Election is usually a time that creates a level of uncertainty in business and with the UK due to go to the polls in May, the Autumn Statement would be the ideal time for George Osborne to offer further help for retailers that have been affected by the rise of internet shopping.

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“The same can also be said for other businesses across the commercial property sector – everyone would like to see the green shoots they have experienced over the past 12 months develop stronger roots for stability.”

The Government announced it would delay the five-yearly rating revaluation from 2015 until 2017 to protect businesses from volatility in the market.

“Rates are probably the third biggest direct cost after salary and rent so I would like to see George Osborne extending the rate relief for at least another 12 months,” Cureton said.

“Businesses would be very disappointed to see it go, even though they were introduced as a temporary measure.”