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25 Sep 2018

It's not too late for you, your staff and customers to get involved

24 Sep 2018

Chains and independent businesses have been forced to close in the last year

24 Sep 2018

To assist in green last mile delivery

20 Sep 2018

Retailers could pay an extra £190 million in annual business rates

19 Sep 2018

Find out what's going on at the show and register for your free entry

19 Sep 2018

Levels of black carbon and NO2 greatly reduced

18 Sep 2018

Cars on Demand surveyed 2000 drivers and cyclists across the country

13 Sep 2018

According to latest BRC Payments Survey

12 Sep 2018

To alleviate the burden of business rates on smaller businesses

12 Sep 2018 | 1 comment

Increasing the scheme limit has the potential to improve electric bike uptake

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Chancellor considers abandoning 3.9% rates rise

Posted on in Business News , Cycles News , Creative News, Outdoor News, Political News

Chancellor Philip Hammond is considering abandoning plans to increase business rates by 3.9% next April.

The Chancellor has indicated he is prepared to listen to the concerns of business groups, The Sunday Times reported.

Business rates rises are set according to the August Retail Price Index (RPI) rate of inflation. However, Government sources have said that the alternative, lower, Consumer Prices Index (CPI) may be used instead. According to that measurement, inflation was 3%.

The Chancellor is keen to show business leaders that he is listening to their concerns after a negative reaction to his speech at the Conservative Party conference.

A source told the newspaper: "Since conference we've made a huge effort to engage. Business rates are due to uprate by 3.9% through RPI next spring.

"The concerns of the business lobby have been heard. We are considering options that include uprating to a lower rate like CPI. This is very much at the forefront of our thoughts."

The Budget will be unveiled on November 22.

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