Phil Orford, CEO of the Forum of Private Business (FPB), welcomed the business rate discount but was less enthusiastic about the two per cent cap, admitting that the FPB had been expecting more:
“The £1,000 further discount for retail properties with a rateable value of less than £50,000 was an unexpected surprise and hugely welcomed. With councils freezing or capping Council Tax, businesses continue to pay a higher proportion of local taxation without seeing real benefits.
“97 per cent of businesses feel property taxation is too high so the extension to Small Business Rate Relief and the cap on business rates to two per cent are both welcome, but sit at the lower end of what the Forum of Private Business was asking for.
“We feel there needs to be a more fundamental review of business rates.”
