HM Treasury’s to delay Fundamental Review of Business Rates

Commenting on the delay to HM Treasury’s Fundamental Review of Business Rates until autumn, BCC Head of Economics Suren Thiru said:

“Delivering fundamental change to this longstanding drag anchor on business has become only more pressing in light of Covid-19.

“Delay in reforming a broken system will hamper any recovery by exacerbating business cash flow concerns as part of the fixed cost base that firms can do little to push downward.

“The delay in the review underscores the need to urgently extend business rates relief for retail, hospitality and leisure and provide rates relief to all firms whose ability to generate revenues are severely impaired by the pandemic.”

Related content

Inflation forecast to fall below 2 percent

By Head of Representation | 6 March 2024

West Yorkshire will receive enhanced levels of devolution

By Head of Representation | 1 March 2024

Businesses asked to help with Planning Fund

By Head of Representation | 1 March 2024

Welcome to the new Chamber website

By Chamber Marketing | 29 February 2024

Buses for better business

By Head of Representation | 29 February 2024

Concerns over reduced funding and capacity for the Lord Mayor of York

By Chamber Marketing | 23 February 2024