Darling cuts business rate rise

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   Chancellor Alastair Darling has gone back on plans to increase business rates by 5% from 1 April. 
Mr Darling said the rise was linked to the Retail Prices Index last year, but RPI inflation had now fallen to zero. 
He said businesses would face only a 2% rise this year and the remaining 3% would be smoothed out over the following two years. 
"I believe this will provide real and genuine help for businesses in this country," said Mr Darling. 

He estimated that one-and-a-half million properties would gain from the change and £600m would be deferred. 

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Keymaster Members Profile Find Members Posts Forum Regular Joined: 27 Sep 2008 Online Status: Offline Posts: 363	Quote Reply Topic: Darling cuts business rate rise Posted: 31 Mar 2009 at 16:46
	Chancellor Alastair Darling has gone back on plans to increase business rates by 5% from 1 April. Mr Darling said the rise was linked to the Retail Prices Index last year, but RPI inflation had now fallen to zero. He said businesses would face only a 2% rise this year and the remaining 3% would be smoothed out over the following two years. "I believe this will provide real and genuine help for businesses in this country," said Mr Darling. He estimated that one-and-a-half million properties would gain from the change and £600m would be deferred.