Burnham-On-Sea MP calls for re-think on 'unfair' business rates
MP has this week called for a re-think to the law that sees firms
being saddled with "unfair" business rates.
Munt, pictured in her London office, wants a change to legislation
after being contacted by a local businessman.
Wilson, a pub licensee, says the current method of calculating
business rates is unfair.
At the moment business rates are based on the rateable value of
a property and are calculated by the floor space of a business
and not by the profit the business generates.
has found this means that small businesses with large premises,
such as his pub, pay a higher proportion of their turnover than
other large premises such as supermarkets.
In the area, rateable values have remained the same for many years,
but were reassessed in 2010. Steve was shocked that this reassessment
saw his pub's tax bill rise from £970 to £2,360 per
He said: "At its peak this pub was giving me a reasonable
income. This has gone down significantly in the last year because
of the rise in costs. The rates increase is by far the biggest
rise. It could lead to me going out of business."
Tessa told Burnham-On-Sea.com: "I have recently been appointed
as Parliamentary Private Secretary to Vince Cable, Secretary of
State for Business, Innovation and Skills. One of the first issues
I raised was the issue of business rates and Vince encouraged
me to pursue this in Parliament. I have contacted the relevant
clerks in the House with regard to laying down a bill which I
hope will begin the process of changing the law to make the business
rates system fairer for small businesses."