Business, Political | Posted on October 29th, 2024 | return to news
Mid Dorset & North Poole MP calls for overhaul of business rates
Vikki Slade and her Lib Dem colleagues are urging the Labour Chancellor Rachel Reeves to replace the business rates system.
With Rachel Reeves set to deliver her long awaited – and feared – budget tomorrow (Wednesday) Mid Dorset & North Poole MP, Vikki Slade, has joined dozens of her Liberal Democrat colleagues in signing a letter to the Chancellor, calling for an overhaul of the business rates system.
They say the system is unfair on companies, bad for our local communities and damaging for our national economy. They are also calling for an extension of rates relief in the interim as a way to back local businesses and save our high streets.
They add that due to the outdated business rates system, pubs, restaurants and shops are being forced to close and that consumers are seeing the cost of this unfair tax passed on to them.
The impact of business rates on small businesses was one of the main reasons Vikki became involved in politics. At the time, she was running a café in Broadstone and could easily see the crippling impact this tax had on our high streets.
Vikki also criticised the previous Conservative government’s failure to live up to its promises in reforming business rates as stated in its 2019 manifesto, saying that “businesses are tired of being treated with such cynicism and relying on a patchwork of last minute, temporary reliefs.”
The Liberal Democrats are calling for business rates to be replaced by a new, fair system by April 2026, making this Budget the last one to include business rates at all.
The new system, known as a Commercial Landowner Levy would be based purely on the value of the land where the business is located and would be based on annual revaluations. Mid Dorset & North Poole’s MP pushed the government to act urgently and make this the last Budget where business rates are a permanent feature of our tax system.
As an interim support measure, Vikki also called on the Chancellor to keep in place the existing 75 per cent relief for retail, hospitality and leisure businesses, until the new system is in place; and to freeze at least the small business multiplier for the same period.
Vikki said: “Local businesses here in Mid Dorset & North Poole make an incredible contribution and we are lucky to have them. They serve as the heart of our community and the backbone of our economy. We need to back them so that they can continue to provide us with their fantastic services.
“The previous Conservative government acted as a barrier to business at every turn, crashing the economy and forcing far too many to close through their disgraceful mismanagement.
“For years, the Conservative party promised time and again to overhaul the outdated business rates system but as was far too common they failed to live up to their word.
“It’s outrageous that under the Conservatives, our small bricks and mortar high street businesses have seen their rates go up whilst out of town Amazon warehouses have seen their rates go down.
“The new government cannot afford to miss this opportunity at the Budget: they must overhaul business rates so that businesses here in Mid Dorset & North Poole can continue to thrive.”
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