Take a stand against rising business rates | 25.10.17
Take a stand against rising business rates
Soon the Chancellor will be releasing the Autumn Budget and its imperative that all businesses in Devon take a stand to show that more needs to be done to ease up the pressure on businesses. The Government is expected to increase business rates by 3.9%, a rise which could potentially cripple many businesses across the UK.
We are going through a difficult time, with Brexit uncertainty surrounding all businesses, rising costs in the materials that we use to manufacture goods and this potential rise in business rates. For this reason, Devon Chamber of Commerce calls for bold action by the Chancellor and Government, for them to see that now more than ever, action needs to be taken to help increase productivity and industry.
There are three key areas that need to be addressed to help businesses deal with the challenges and opportunities that Brexit provides. Kickstart productivity surge, and ensure that the domestic economy is in the best possible position on day one of leaving the EU:
- Tackle the upfront cost of doing business – pledge not to put any more input tax and other significant costs, abandoning the annual uprating of business rates for the next two years.
- Incentivise business investment during the Brexit process - through the introduction of a ‘Brexit Special’ Annual Investment Allowance, temporarily increasing the limit to £1 million.
- Fixing the fundamentals – committing to ensuring complete voice coverage on mobiles by 2020, and kickstarting infrastructure projects vital to our economic future.
This is a critical moment for the economy of Plymouth and Devon, it is no longer possible to sit on the side lines and be complacent. That way of thinking will only lead to more damage for the business community, instead it is time that we all decided to rise up and let Government hear what needs to be said.
Devon Chamber of Commerce is how you get your voice heard; we have direct links with Government, including key decision makers such as the Bank of England. Most recently, the results of the work we have done over the past years were shown by the £28million investment in our road infrastructure. A great result but it is simply not enough, there is so much more that needs to be done, we need to tackle the issues that businesses are facing head on, however the only way we can do that is by having your support. By being a member of your local Chamber, you are taking a stand, you are working for a bigger cause, one where we want to see a profitable and thriving Britain that is beneficial to those that live and work in.
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