At its Party Conference, the Conservative Party has announced it is committed to scrap business rates. Bira obviously supports this move but highlights that similar promises have been made before.
This is a summary update on the Conservative Party Conference, among more updates, from Andrew Goodacre, CEO
Another week and another party conference. Also, more statements of support for small businesses. This time it was the Conservative party committing to “scrap business rates”. Obviously, we support such a policy – it is such a shame that the Conservative government did not do this whilst they were in power from 2010 to 2024. Opposition parties saying that they plan to scrap businesses rates is nothing new – Labour said the same thing when in opposition and are now doing the opposite.
Labour’s so-called transformation of business rates will increase rates for everyone, and those with a rateable value above £51,000 will see their rates bill double in April next year! Rest assured we are doing our best to get this changed, and at least we strongly believe that those retailers affected by this large increase should at least receive transitional relief.
We are also approaching decision time for the Low Pay Commission to determine next year’s National Living and Minimum wages. Bira has already submitted information urging the Commission to be cautious, whilst finding a way of ensuring employees receive fair pay for a day’s work. A tricky balance and I am keen to submit any last-minute thoughts from indie retailers.
Should the new rate be in line with inflation? Please let me know by writing to me on andrew.goodacre@bira.co.uk or sharing your thoughts on the forum.
From a policy perspective this is a busy time of year, culminating in the budget on the 26th November.
