Reacting to the Chancellor’s announcement on Business Rates, Fiona Twycross AM, Labour London Assembly’s Spokesperson for the Economy, said:
“The changes to business rates were a reckless move by the government, and unfortunately this announcement does not go nearly far enough towards tackling the problem they themselves have created.
“Small and Medium Sized Enterprises are the lifeblood of our local economy. Over half of Londoners are employed by SMEs whether it is a tech start up, a corner shop, an artisan maker or a business consultancy. They shouldn’t be penalised for operating in London as opposed to other parts of the country.
“While I welcome the principle of extra funding for local authorities, it is not enough, and we need to see the detail of this before we know whether or not it will help Londoners. The government needs to take much more significant action rather than paying lip service to the problem but ignoring the reality.”
Notes to editors
For more information please contact London Assembly Labour Group press officer, Kate Talbot, on 020 7983 4952 or 07795 616832. Number not for publication.