There is broad consensus that the current Business Rates system is out-of-date, unsustainable and in urgent need of reform. The CBI and Avison Young argue that the pandemic has fast-forwarded that need for change with so many businesses – retailers, manufacturers, and distributors – under serious strain.
In a new joint report, “Over-rated – Making the case for business rates reform”, the CBI and Avison Young reveal that the burden of business rates in England – at nearly 50p in the pound – will continue to climb without reform. New analysis reveals that would cost businesses at least an extra £6bn over the next 5 years.
The CBI’s East Midlands Director, Richard Blackmore, warns that
link source - East Midlands Business Link General