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That this House notes business rates are the third biggest expense for many small businesses after rent and wages; further notes business rates are a regressive tax not related to the ability to pay which places a disproportionate burden on small businesses; also notes the Institute for Fiscal Studies (IFS) Mirrlees Review which states, the business rate is not a good tax, which distorts economic behaviour; further notes using a monthly average RPI to determine the inflationary rise can lead to disproportionate rises in business rates, such as the 5.6 per cent increase in 2011, whereas using an annual average RPI would tend to flatten out spikes and make increases more predictable; supports the Federation of Small Businesses' call for the Government to review the process by which the inflationary uplift is decided; calls on the Chancellor of the Exchequer to extend beyond 31 March 2013 100 per cent relief on business rates for properties with a rateable value of 6,000 or less, to also extend beyond 31 March 2013 tapered relief for properties with a rateable value of less than 12,000 and to increase the threshold from 12,000 to 15,000; further calls for these extensions and increases in relief to be funded by the Treasury, as is the case with existing relief, and not translated into further cuts to already hard-pressed local authorities; and to urgently consider and bring before the House further measures to assist small businesses.
Total number of signatures: 28
Showing 28 out of 28