The recent reduction in the inflation rate is apparently being stated as clear evidence that business rates will increase. There are worries within the UK economy that business rates may increase and this could majorly jeopardise some businesses capacities to perform.
The British Retail Consortium is stating that whilst the fall in inflation will ease the squeeze on household budgets there will still be rising wages which businesses must pay.
The BRC are now suggesting that the target rate of 5.6% for business rates in April is now increasingly unjustifiable.
Comments have been made by retailers suggesting that firmer options must be taken in order to increase the support of consumers on the high street.
Calls are now being made to reduce the proposed business rates percentage as this could have a major impact on the business world. Small and medium enterprises are stating that they are the highest risk.