Business Rates System
“This Assembly adds its concern to those already expressed by the Mayor, London Boroughs, businesses and politicians across all parties about the devastating, and disproportional, impact that the Government’s proposed changes to the business rates system will have on London’s businesses, high streets and night time economy.
From shops, pubs and clubs to nurseries and schools, from the City to the High Street, these changes could negatively impact London’s economic and social landscape as businesses struggle to meet rates hikes averaging 45 per cent. Furthermore, changes to appeals procedures could make it harder for businesses to appeal against valuations bringing further unfairness and confusion.
We welcome the Mayor writing to the Chancellor calling him to protect London businesses against the increases and request that the Chair does the same on behalf of the Assembly. In the long term, we urge the Mayor to make the case for additional control of business rates to be devolved to London.”