BCC press release: Business rates ‘tweaks’ not enough

Reacting to today’s announcement of further transitional business rates relief for pubs and music venues, Kate Shoesmith, Director of Policy at the BCC, said: 

 “This is good news for pubs and music venues in England, but it does not go far enough to protect many other businesses which are under huge pressure. 

“Our latest research shows that concern about business rates is its highest for at least eight years, with a third of all firms worried. In the hospitality sector that rises to 49%. 

“Companies have proven remarkably resilient through years of turmoil, including Brexit, Covid, rising energy bills and geopolitical crises, but there are limits to how much they can endure. 

“With new employment legislation coming down the tracks, a further inflation busting rise in the minimum wage and continuing global headwinds, the government must ease this burden. 

“The Labour Manifesto, in 2024, correctly identified that business rates were a disincentive to investment, created uncertainty and placed an undue burden on High Streets.  

“It pledged to reform them and it is now time the Government delivered on that promise.  

“As a first step to fixing business rates it should move to annual revaluations, to give greater certainty around rateable value changes, and adopt a single flat rate 40p multiplier.  

“These changes would provide greater transparency, simplicity and fairness ahead of a full review of the system.”