Colliers calls for business to back rating revaluation petition

07 December 2012 by
Colliers calls for business to back rating revaluation petition

Property firm Colliers International has launched an online petition to stop the Government's planned postponement of the 2015 business rates revaluation.

It has started an e-petition on the Government website which will be considered for debate in the House of Commons if it reaches 100,000 signatures.

The proposal to delay the 2015 rating revaluation until 2017 is being put forward by the Government as part of the Growth and Infrastructure Bill.

It means businesses will continue to pay business rates based on property values in 2008, rather than the lower current values. Colliers said this amounted to a "slap in the face" for struggling businesses.

The property firm said that many businesses had seen significant falls in rental value since 2008, with some regions falling by as much as 27%. The only area showing an increase was London's West End, where rental values rose by 26% over the same period.

Colliers' national head of rating John Webber said: "Struggling businesses have been eagerly awaiting the 2015 revaluation as a relief from high rates bills. Having it deferred until 2017 simply means that any decreases in their bills or chance of clawing much needed money back from the Government will have to be deferred.

"At a time when businesses need all the support they can get from government, this is just another slap in the face. And while the Government is stating that it won't increase rate bills more than inflation, postposing the revaluation means many businesses are being denied decreases in real terms.

"For some ailing high streets, this really could be the final nail in the coffin. This is why we are urging the Government to rethink its proposal and in doing so help to save our high streets."

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By James Stagg

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