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BPF throws its weight behind campaign to halt ‘damaging’ business rate hike

The British Property Federation today joined a growing list of voices calling on Government to cap the annual business rates increase at 2 per cent, in line with its target for inflation, to help struggling high street retailers.
 

Responding to the launch of the Association of Convenience Stores’ campaign to cap business rates increase at 2 per cent, the BPF reiterated its support for the cap which it first proposed in its response to Mary Portas’ review of the high street. The BPF also pointed out the compounding effect of linking business rates to RPI meant they had doubled over the past two decades.
 

Annual rates increases are currently based on Retail Price Index inflation figures from the previous September, meaning struggling retailers face a 5.6 per cent rates hike in April.
 

Ian Fletcher, director of policy at the British Property Federation, said: “This damaging business rate hike will come at the worst possible time for many retailers and whilst we welcome temporary reliefs we believe the system could provide greater certainty for all concerned.

“Linking business rates to RPI has meant they have doubled over the last 20 years, rising far more rapidly than rents and Government could send out a clear signal in support of enterprise, and reduce administrative costs for itself, by fixing the business rate uplift each year, which we have suggested should be at the rate of the inflation target, currently 2 per cent.”

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Patrick Clift, Media and Public Affairs Manager, on 07834 439 505 or at pclift@bpf.org.uk

Paul Sweeney, Media Officer, on 07841 732 194 or at psweeney@bpf.org.uk

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