Changes to the business rates regime and the widely expected freeze on fuel duty announced in the Chancellor’s autumn statement, have been welcomed by the PRA’s parent body RMI.
RMI director Sue Robinson commented: “The RMI is pleased to see the extension of the small business rate relief scheme. The announcement that rates will be capped at 2% next year and the new option to pay in monthly instalments will be of great benefit to our smaller members.
“News that small businesses with premises with a rateable value of under £50,000 will receive a discount of £1,000 will provide welcome relief to RMI’s very small members.”
Robinson said the RMI also welcomed the general transport measures contained in the Chancellor’s statement.
George Osborne said in September he would continue to freeze fuel duty if economic circumstances allowed, and he confirmed that it would frozen for the life of the current Parliament, until May 2015.
Robinson said this, and road upgrades which were also announced, would benefit road users and in turn should have a positive effect on the vehicle market.