Humbug or ignorance?
The British Chambers of Commerce (BCC) is urging George Osborne, in his Autumn Statement on December 5, to freeze business rates for the next two years. The business group wants the government to review and reform the business rates system by 2015, with a more “responsive and transparent” system enacted early in the next parliament.
Is this humbug or pure ignorance? The BCC could say exactly the same thing about rents, since the same objections apply. Why doesn’t BCC propose a rents freeze? Or at least an end to upwards-only rent revision clauses? The UBR could do with being tidied up, but any rates cut will be absorbed by the landlords at the first rent review. There is such a wealth of evidence to show that this is what happens, that one wonders how they think they can get away with coming up with suggestions like this?