The Fed’s National President Writes to Treasury About Business Rate Bill Increases

The Fed’s National President has once again shared concern about forthcoming Business Rate Bill increases likely to hit small independent shops from April, in correspondence to the Treasury.

The letter to Exchequer Secretary to the Treasury, Dan Tomlinson MP, raised concern again about rising business rates bills set to take effect from April, with a big business rates revaluation combining with loss of Retail, Hospitality and Leisure Relief and a disappointing cut in the multiplier for small businesses rates multiplier, ultimately set to push up bills.

As has been previously reported, the Fed has expressed concern before and after the budget about the possible impact of the bill increases which look to hit small business investment and employment. Whilst some of the changes have been abandoned for pubs, they are still in place for small retailers and other parts of hospitality, causing great concern across the independent retail sector.

The Fed’s National President, Hetal Patel said: “Our members play a crucial economic and social role with our many thousand members serving people in cities, towns and villages, all across the country. However, as we have previously stated, we have concerns that these increases will hit small business investment, limit the number of staff our businesses can employ and ultimately undermine the financial viability of many. We are seeking to engage with the Government further to see what further they can do to help ensure our members survive and thrive.”