The Chancellor’s announcement in the Budget that 90 per cent of all pubs in England will receive a £1,000 discount on business rates bills in 2017 has been praised by the local MP Maria Caulfield.
The Chancellor outlined a cut to business rates worth nearly £9 billion, which would take out more than 600,000 small businesses from paying business rates altogether. Those who still have to pay business rates have been assured that their bill will increase by no more than £50 a month, and the subsequent increase will be capped at either the transitional relief cap or £50 a month, whichever is higher.
A £300 million fund has also been promised to target individual hard cases in local areas, so that they are not ignored in these changes.
MP Maria Caulfield, whose consistency includes many small businesses in Seaford and Polegate, described the Chancellor’s announcement as a ‘huge win for the pubs and small businesses’.
She added, “I am very pleased that the Chancellor has recognised the huge economic and cultural contributions that pubs and small businesses have on our communities.
“These reductions in business rates are a signal that the Treasury has faith in small businesses and pubs; and therefore they should take advantage of these reductions to increase their growth rates and outreach.”