Labour candidate calls for business rates cut for Plymouth

"Business rates are set to rise by £410 in Plymouth putting our high streets and local economies at risk" – says Luke Pollard, Labour’s Parliamentary Candidate for Plymouth Sutton and Devonport.

Labour claims that the average business rates bill in England will increase by an average of £430 in 2014/15, meaning a business rate hit of around £12,600. Mr Pollard argues that this is simply not sustainable for many small businesses in and around Plymouth.

Ed Miliband has pledged to tackle this business cost by cutting business rates on properties with an annual rental value of less than £50,000 in 2015, back to the level of the previous year, in addition to freezing business rates for those properties at that level in 2016.

Labour have said the tax cut would be paid for by reversing the Coalition’s cut in the main rate of corporation tax from 21% to 20%.

Speaking about the policy, Ed Miliband, Leader of the Labour Party said:

“Small businesses are the lifeblood of communities right across the country.

“Business rates keep going up and up. They are due to increase on average £430 this year. But David Cameron’s Government stands up for big business and ignores the needs of small business.”

Luke Pollard, Labour’s parliamentary candidate for Plymouth Sutton and Devonport, said:

“Here in Plymouth we thankfully have a range of independent shops alongside bigger well-known retail stores. That mix is really important for a vibrant and thriving local economy. Every penny counts for the smaller businesses who are constantly watching that bottom line. Labour’s business rates freeze and cut is the sort of welcome boost they need to have confidence to grow and prosper.”

What do you think? Are business rates too high? Can we afford a cut? Is Labour's policy the right one or is the Coalition's economic policy successfully steering the country towards a recovery? We welcome your views and opinions.

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