MP proposes reform to business rates to help small firms
MP wants business rates for the UK's largest employers increased
by a single percentage point in order to remove the burden of
business rates on smaller businesses altogether.
Munt said on Friday that she is compiling a new parliamentary
bill that will seek radical changes to the way small businesses
says the current system of setting business rates is "unfair
and disproportionately hard" on small and medium sized firms,
and has the potential to stifle the growth upon which the UK's
economic recovery relies.
wants business rates for the UK's largest employers increased
by 1% in order to remove business rates from smaller businesses.
says that if the UK is to encourage growth, the Government should
act to make life easier for small and medium sized firms since
99.9% of the total number of enterprises in the UK are of this
size and provide 59.1% of private sector jobs.
Burnham and Highbridge MP says she has spent part of her summer
visiting local businesses to hear their opinions and collect evidence
ahead of her Private Member's Bill being discussed by Parliament.
told Burnham-On-Sea.com: "Whilst only a minority of Private
Members' Bills become law, they are useful as they create a buzz
around about the subject and generate some discussion. They also
send a clear message to the Government that the Bill has support
and deserves its attention."
simple 'common sense' tweak to the current unfair policy could
do so much to help our struggling small and medium sized enterprises,
kickstart our economy and breathe life back into our high streets.
I am hopeful it will attract a good level of support and make
was appointed Parliamentary Private Secretary to Vince Cable,
the Secretary of State for Business, Innovation and Skills, earlier
this year and one of the first issues she raised was the burden
of business rates on SMEs. She has been encouraged by Mr Cable
to pursue this through Parliament.