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Business rate changes could still leave firms £600 worse off

March 8, 2017 4:00 PM
Originally published by UK Liberal Democrats

The Tories have been attacked today by the Liberal Democrats as 'betraying' small businesses. The Budget still meant that businesses could pay £600 more a year.

Hammond pledged that no firm losing small business rate relief will see their bill increase next year by more than £50 a month, this works out at £600 a year.

Commenting, Shadow Business Secretary Don Foster said: "The Tories cannot look themselves in the mirror and call themselves the party of small business. They are placing greater regulation, burdens and pressure onto some of the smallest companies and yet the Treasury does not seem to care.

"These changes will raise hundreds of millions but will break the back of many businesses that make our High Streets unique and special.

"The Chancellor has only put off self reporting for a year. He should give it a proper review and then axe it altogether."