The government will also abolish the Uniform
Business Rate and give local authorities the power to cut
business rates to boost enterprise and economic activity in their areas.
He said: "First, the equalisation of
business rate income to poorer areas from richer areas must continue.
At present
business rates are not fully devolved to Wales, so the
Business Rate Multiplier is higher in Wales than in England or Scotland and lower for large companies.
AN UPSURGE in demand for commercial property in the West Midlands has enabled developers to drive harder bargains - but the market is being hampered by
business rate concerns.
On Thursday, the Chancellor revealed plans to cap
business rate increases to two per cent next year, as well as extending the small
business rate relief scheme for one year from April 2014.
Back in 2007, my fellow Daily Post columnist Lord Wigley stated that "a significant reduction in the
business rate might cost between pounds 100m and pounds 200m, depending on how it was applied, but it certainly can be afforded within (the economic development) budget, and it would better for that money to be re-circulating within the business sector, enabling it to take on more people, to set up new projects, and to have a new confidence and incentive for its work, than being gobbled up in the bottomless pit of bureaucracy, where so much of it ends up at present.
This bonus is in addition to the standard 500 miles that AAdvantage members earn for their
business rate stays at Hilton.
Not only will local authorities be able to keep the monies raised by
business rates, they will also be able to adopt their own rate poundage as the uniform
business rate, which was introduced on 1 April 1990, is to be abolished.
Clr Sheard added that
business rate relief for small businesses was vital locally, adding: "We've got to make sure that continues.
In your North East Manifesto survey, there was huge support for a
business rate cut, at 47.
Rate relief is to be extended into 2015/16 THE Welsh Government has confirmed the Small
Business Rate Relief Scheme will be extended for the next financial year 2015-16.
The Welsh Labour Government's current
business rate relief scheme is wholly inadequate, doesn't go far enough and must be extended.
