Knowledge Centre
23rd December 2008
A hike in business rates is coming at just the wrong time, according to the Association of Convenience Stores (ACS).
The group has criticised the Government's intention to bring in a 5% rise from April 2009, something the ACS says is based on September's rate of Retail Price Index inflation - which has now fallen to 3%.
And the planned increase comes at a time when inflation for small businesses is calculated to be running at twice the level of CPI inflation.
The ACS is renewing the call it made after writing to Chancellor of the Exchequer Alistair Darling prior to the pre-Budget report.
Chief executive James Lowman said: "We are facing uncertain times and yet businesses are going to be hit with the biggest rate increases since 1990.
"Freezing business rates is potentially one of the most beneficial things that the Government can do for business right now.
IMAGE Fiona Hanson/PA Wire
ACS calls for business rate re-think
The group has criticised the Government's intention to bring in a 5% rise from April 2009, something the ACS says is based on September's rate of Retail Price Index inflation - which has now fallen to 3%.
And the planned increase comes at a time when inflation for small businesses is calculated to be running at twice the level of CPI inflation.
The ACS is renewing the call it made after writing to Chancellor of the Exchequer Alistair Darling prior to the pre-Budget report.
Chief executive James Lowman said: "We are facing uncertain times and yet businesses are going to be hit with the biggest rate increases since 1990.
"Freezing business rates is potentially one of the most beneficial things that the Government can do for business right now.
IMAGE Fiona Hanson/PA Wire
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