Business rate cut welcomed

Philip Hammond has brought forward a cut to businesses rates meaning from April 2018 rates will rise in line with the lower CPI measure of inflation, not the RPI. Business rates were due to go up next year in line with September’s RPI of 3.9%, while CPI was 3% that month. The move is worth £2.3bn to businesses over the next five years, the Chancellor said. Mr Hammond also promised a change in the law that led earlier this year to companies receiving much higher rates bills if their offices were in communal blocks and spread over several floors or separated by corridors shared with other occupiers.

BBC News Independent i, Page: 15 Financial Times, Page: 8 The Sun, Page: 10 The Times, Page: 9 The Daily Telegraph, Budget 2017, Page: 3

Posted 23/11/2017