CBI says business rates holding back the high street
The CBI commented on the Government’s announcement of a review into the system of business rates.
John Cridland, CBI Director-General, said:
“The current system of business rates is outmoded, clunky and regressive and holding back the high street. That’s why we’ve been calling for a wholesale review of the system.
“The package of measures already announced in the Autumn Statement that will come into force from April will help ease the pressure on hard-pressed retailers.
“But this review provides an opportunity to go much further and we’ll be making the case for removing the smallest firms from paying business rates completely, linking rates to CPI rather than RPI and introducing more frequent valuations.
"This would go a long way to achieving a more competitive business rates regime that incentivises business investment and supports the high street.”