Dismore urges Chancellor to cap rates rise
Labour London Assembly Member for Barnet and Camden Andrew Dismore has written to the Chancellor of the Exchequer to demand a cap on business rate rises. The Government recently announced a revaluation of rateable values that disproportionately affects London, including both Barnet and Camden. (Please see my Letter to Hammond on business rates)
Mr Dismore said:
‘With the impact of the Brexit vote, the damage austerity is doing to our communities and eye watering increases in the cost of rent, increases to business rates are an unwelcome quadruple-whammy. According to the Federation of Small Businesses, 27% of small to medium enterprises are considering closing operations. This would represent a disaster for jobs, high streets, councils and the quality of life in Barnet and Camden.’
‘Unfortunately, the only way councils can mitigate against these steep rises is through cutting rates themselves. Given the deeply harsh cuts to Local Government funding, not least in London, that is an unrealistic and impractical suggestion, which would have a severe detrimental impact on other public services and worsen the already severe social care crisis.’
