Bricks and mortar businesses are being unfairly punished by outdated business rates in need of reform, writes Ros Morgan

Promised business rate reform is yet to come

Politicians talk a lot about growth, but continue to increase taxes on those who power the economy.

Nowhere is that contradiction clearer than business rates. My members were thrilled when Labour promised before the election to fundamentally reform an outdated and unfair system, making it fit for the 21st century.

For many years, there have been calls to level the playing field between property-light online businesses, who pay minimal rates, and high street ones which are taxed based on the rateable value of their property.

Instead of this, in November’s Budget the Chancellor simply tweaked the existing system, promising her changes would mean the lowest rates since 1991. The reality has proved very different.

News Updates

Stay ahead with our three daily briefings delivering all the key market moves, top business and political stories, and incisive analysis straight to your inbox.

The 2026 revaluation will add an estimated £2bn a year to business costs in London alone.........

© City A.M.