Imran Hussain MP

Labour MP for Bradford East

EDM 215 - BUSINESS RATES REVALUATION

That this House notes that present business rates are based on valuations carried out in 2008, prior to the world financial crash and ensuing recessions; is concerned that the revaluation postponement in 2013 severed the link to rental values, which would otherwise have seen business rates fall in many parts of the country; is further concerned that businesses are, and have been, paying top of the market rates in a depressed climate and will have to do so for a further two years; further notes that this has been felt most by struggling small and medium-sized enterprises, businesses and traders located in town centres, particularly outside London and the South East, the area which has been the biggest beneficiary of the postponed revaluation; calls on the Government to address this problem urgently, and to help small businesses and towns by creating a more conducive environment in which smaller businesses and town centres can grow and thrive; and further calls on the Government to bring forward the date at which business rates will be revaluated and introduced, and to commit through its review to ensure that there is a fair mechanism that enables companies to generate jobs and create wealth and growth in communities.

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