ACS has joined other business groups in calling on MPs to press Ministers to withdraw plans to delay the 2015 rates revaluation in a debate taking place in the House of Commons today (November 5).
ACS along with the British Property Federation, British Independent Retailers Association, British Council of Shopping Centres and Action for Market Towns have called on Ministers not to press ahead with changes in the law until they can show how thousands of retail businesses will not lose out from the delay.
Ministers announced the decision to delay the scheduled revaluation on 18th October calling it “a reform that will provide certainty for businesses to plan and invest, supporting local economic growth.”
In an article in the Telegraph, the Minister explained that the revaluation would not lead to the Government gathering in more, or less, tax revenue. He described the valuation as a ‘see-saw’ whereby even if a business saw the valuation of its property decrease, they could still be required to pay more in rates.
ACS chief executive James Lowman said: “We believe Ministers intentions are good, and aimed at supporting businesses. However we are not convinced that delaying the revaluation is the right way to do this and we want Government to share a more detailed analysis of the risks from delaying and not delaying the revaluation.
“What we actually need is a wholesale review of the impact that the cost and volatility of business rates is having on the retail sector. It needs to address how properties are valued, how rates are increased year-on-year and how discounts and incentives are used to revive and sustain high streets.”