Business rate increase could sound 'death knell' for small traders (From St Albans & Harpenden Review)

St Albans MP Anne Main comments on business rate increases

2:46pm Tuesday 26th January 2010 in News By Manisha Mistry

ST ALBANS MP Anne Main has called for more support for small traders in the wake of an imminent hike business rates.

As the Review reported earlier business rates have been reassessed and many are braced for devastating news.

Mrs Main said a huge rise could sound the death knell for many independent businesses.

She said: “Obviously it is a difficult time for small businesses and this is the trouble we are in the recession, well up until today we have been struggling along in difficult times.

“So for this five year review to come along now is going to be very very hard for small traders.”

Mrs Main slammed the revaluation for being based on the peak boom in April 2008 and hopes the relief for small businesses will be reinstated.

She added: “I think this is the way forward and I am disappointed that the Government hasn't done this already.”

Graham Lane, president of the St Albans Chamber of Commerce, commented: “St Albans will be hard hit because the way properties have increased in price. I think its really difficult for retailers because they are expected to manage.

“The picture will be balanced out across the country but St Albans will find it extremely hard.”

Mel Hilbrown, St Albans Enterprise Agency Director, said: “The rating reassessment has come at a bad time for businesses, many of which have struggled with the effects of the recession.

“Businesses need stability to be able to plan and develop, and , although the government claim that the overall revenue raised from the new rates revaluation will not be significantly different, the effects on individual businesses can be dramatic – some have seen increases of 100 per cent or more in rateable value, while others have only a modest change.”

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