CBI argues against further rises in business rates


CBI argues against further rises in business rates

Microscope contributor

The CBI is leading calls for a freeze on business rates to help prevent companies being pushed under by higher levels of taxes and is fighting against plans to increase payments companies face even further.

The business lobby group is urging a change of mind in the government around the Business Rates Supplement Bill, which is being debated in its third reading in the House of Commons today.

The CBI is arguing that businesses cannot afford to pay anymore taxes in the current environment.

The Bill would allow local authorities to tax local companies to he;lp pay for projects that are designed to benefit those living in the area.

The government has already announced an increase in business rates to 5% and any supplementary charges would be added to that burden.

“These extra taxes on business could harm local economies by placing extra financial demands on firms when they can least afford it. They could make the difference between companies surviving the downturn or going to the wall,” said John Cridland, CBI deputy director-general.

The CBI has also called for the 5% increase in business rates to be frozen for two years to help companies get through the current difficulties.

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