Government Announce Plans To Change Business Rates As Local Shops Struggle With Increases.

Dagenham and Rainham MP Margaret Mullane has welcomed plans announced by the government to change the business rates system.

Local shops are struggling with businesses rates increases, some hitting up to more than double the year before.

Margaret told the Havering Daily:

“An extremely unfair Business Rates system that hammers small shops was inherited from the last Tory government.

 “I’m really pleased that this government has announced firm plans to change Business Rates. The plan is that from next year shops with a Rateable Value of £500,000 or less will have their Business Rates reduced. This will be paid for by the big online companies by increasing their Business Rates. This move will make trading fairer for small shops and breathe life back into high streets and shopping parades.

 “I know this will be greatly welcomed but of course shops need to get through this year first before they feel the benefit. One thing that will really help small businesses and shops is the increase from 6 April of the employers National Insurance Contribution allowance. This is going up from £5,000 to £10,500 for all businesses whose NIC bill is below £100,000 a year.”

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