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Business groups call for rates reform ahead of Autumn Statement

Two of the UK’s leading business groups have called on the Government to reform business rates, in their submissions to Chancellor George Osborne ahead of the 2013 Autumn Statement.

The British Chambers of Commerce (BCC) has urged the Government to freeze business rates for the coming two years, and to completely reform the business rates system by 2015.

The BCC is calling for a ‘more responsive and transparent’ system of business rates, which is fair for businesses across the UK and has sufficient flexibility to respond to changes in the economic cycle.

Meanwhile, the Confederation of British Industry (CBI) has called for action on business rates, energy and housing.

Echoing the BCC’s call for a business rates overhaul, the CBI has called for a temporary cap on the annual business rates increase at 2%.

CBI Director-General John Cridland said, ‘We must not forget the job on deficit reduction is only half done and needs finishing. This needs to go hand in hand with business investment to create jobs, raise living standards and drive the recovery’.

The Chancellor will deliver the 2013 Autumn Statement on Thursday 5 December.