WNY Chamber calls for business rates reform

The level of Yorkshire firms concerned about business rates is continuing to rise, with many planning on passing on the costs to consumers with increased prices, new data shows. 

Some 41 per cent of businesses are now worried about their business rates, up from 34 per cent at the end of last year, British Chamber of Commerce data shows.  

Concern is highest in the hospitality (65 per cent) and retail (55 per cent) sectors with manufacturing and logistics close behind on 48 per cent each.  

The BCC’s research, conducted before the impact of the Iran War, shows half of all firms plan to put up prices due to rising costs.  

West & North Yorkshire Chamber is calling on the Government to grab the chance to fix the UK’s broken business rates system in its legislative agenda for the King’s Speech next week.   

Companies cite cost pressure from business rates as a key reason for increasing prices and delaying expansion of their premises.   

While the Government made some concessions on business rates for pubs and live music venues earlier this year, BCC research shows the worry being felt goes much wider.   

Mark Casci, head of policy and representation at the Chamber, said: “Employers have been calling out for business rate reform for decades, but successive Governments have failed to take meaningful action to tackle this issue.  

“Our research shows the alarm bells were ringing more loudly even before cost pressures went into overdrive due to the Middle East conflict.    

“A truly progressive government would make changes to the way the system works to reflect a modern economy, without damaging the revenue raised. The government must deliver the more ambitious root and branch reform of the whole system that it promised.” 

For further information please contact mark.casci@wnychamber.co.uk