Chancellor Philip Hammond provide immediate relief to London’s small and medium sized businesses from catastrophic increases in businesses rates in the next budget. Business rates are unfit for purpose.
Why is this important?
Already facing the country’s highest rents and disproportionate rates, London’s small and medium sized businesses are now likely to be hit by further rate rises at the next budget, forcing even more to close for good.
London's local high streets are home to hundreds of small businesses (be they, shops, hair dressers, barbers, bars, pubs, theatres or restaurants) and are collectively responsible for many thousands of jobs.
Independent businesses provide the glue that holds communities together, while forming the backbone of the national economy. Rather than adding to their burden, the government should be doing everything it can to support the owners of small and medium sized businesses as they seek to improve their lives and the lives of those around them.
Ibrahim Dogus, Patrick Lilley, Pancho Lewis & Caroline Saville