Further calls are being made on the Government to rethink the current plans in place for business rates throughout the UK. John Longworth, the current director general for the British Chamber of Commerce, has stated that the Chancellor George Osborne should be giving UK businesses a break during the current “momentous times”.
Speaking above the current business rates situation Longworth stated that the government was compromising businesses with the current business rates structure. The future could be very bleak if the UK economy was to fall behind; this oculd impact upon the youngsters of the future according to John Longworth.
The British Chamber of Commerce is stating that the British economy should be putting businesses first and therefore business rates should be structured in this way. Allowing growth within the economy would improve the chances of Britain leading on an International stage in the future.
The current position is that the Government will increase business rates but people are calling for this stopped.
Numerous large businesses have entered administration in the last few weeks and this has been mainly due to rising costs throughout Britain.
Small retailers are expected to face increased pressure through 2012 as rates continue to rise.