MP WELCOMES BUSINESS RATES HELP FOR LOCAL BUSINESSES
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MP WELCOMES BUSINESS RATES HELP FOR LOCAL BUSINESSES

Five thousand business properties in Wychavon are set to benefit from a package to help the high street and support businesses announced in George Osborne’s Autumn Statement today.

Peter Luff, who campaigned on small business rate relief in the last Parliament, has welcomed the news that will boost jobs and growth in Mid Worcestershire.

The package includes a business rate discount of up to £1,000 for retail premises, including shops, cafes, pubs and restaurants, in order to help boost town high streets.

Measures announced include:

• A 2 per cent cap on everyone’s business rate increases.
• £1,000 off business rate bills for all retail premises with a rateable value up to £50,000 for 2014/15 and 2015/16. This includes shops, cafes, pubs and restaurants.
• A new reoccupation relief, which will halve the rates bills of businesses taking over premises empty for over a year.
• The doubling of Small Business Rate Relief is being extended to April 2015 and expanded.

After the Autumn Statement, Peter commented,

“I am pleased that the Government has listened to calls from local businesses. That’s why this help for the high street is such good news. Five thousand businesses in Wychavon will benefit from the overall package of support – especially the shops, pubs, and cafes on our high streets.

“High street businesses are an important part of local life. With the UK’s first Small Business Saturday this weekend, which I am supporting, the Government is giving small businesses in Worcestershire the help they need to grow and create jobs.”

ENDS


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