NEWS
RELEASE

"We welcome the Government’s intention to avoid complex anti-avoidance regulations. Its decision to continue supporting listed buildings and to extend support for companies in administration is also positive.

"But the Government’s response pays insufficient attention to the overwhelming and widespread opposition that was voiced to this policy as a whole. Charging rates on empty business premises will add significant and unnecessary costs for firms without achieving the stated aims of fuller use of property and lower commercial rents.

"If it is to push this through, the Government must commit to monitor the impact on levels of development and demolition. There is already evidence that development has been made unviable by the threat of these rates."

The reform of Empty Property Relief on Business Rates is expected to raise the Treasury additional revenue of close to £1 billion a year by significantly reducing the period during which businesses do not have to pay Rates on empty premises.