Local businesses face massive rates rise

12.00.00am GMT Tue 17th Nov 2009

Weston-super-Mare businesses are facing a massive jump in their business rates bill following revaluation of property prices by the Government.

Local firms face rises in double figures with many reporting increases of 15% and more in their bills.

The Valuation Office Agency has completed a revaluation of commercial premises and the new rateable values will come into force in April next year - leaving almost every business with a massive rate hike.

Mike Bell, the Liberal Democrat Parliamentary Candidate for Weston-super-Mare, has hit out the proposed increase and called for action to assist local firms.

He said: "The new valuations were based on property prices in April 2008 - since then the economy has slumped and gone into recession. No adjustment has been made to reflect that downturn.

"This huge jump in the rates bill for local firms could not come at a worse time as many are struggling to survive.

"At a time when the economic downturn, excessive red tape and rising bills and rates are drowning our local businesses the Government must do more to support them - by looking again at the proposed business rate increases and by providing more business rate relief."

Mr Bell has written to Business Secretary Lord Mandelson urging him to act to help businesses as a matter of urgency.

According to the Federation of Small Businesses, business rates are the third biggest expense for most businesses.

The Valuation Office Agency carries out a revaluation of all rateable values of businesses in England and Wales every five years. The next revaluation is due to come into effect on April 1, 2010. All commercial properties have had their rateable value reassessed based on the valuation date of April 1, 2008.