During the 1980s, the government introduced what were called Enterprise Zones, where no property tax was payable. The scheme was carefully monitored by consultants Cambridge Econometrics. The conclusion was “that 100% of the benefits from NNDR relief are passed into rents and therefore accrue to landlords although the range of uncertainty surrounding this statistical estimate puts the boundary...

Tinkering with rates is  not helping business. So says the Institute of Fiscal Studies, a reputable think tank, which argues for land value taxation as a replacement for the UBR. Here is a link to an article in the Daily Telegraph. The original IFS report is here. It contains a detailed analysis of the system of business rates, discusses their economic impact and comes up with proposals for improvement....

A circular issued last month announced the government’s intention to put off the 2015 UBR revalution for two years. The circular says “The Government has announced its intention to postpone the next business rates revaluation in England to 2017. Primary legislation will be brought forward through the Growth and Infrastructure Bill which was laid before Parliament on 18 October 2012. “Business...

Croydon town centre has thrived since Tramlink opened in 2000. But now the retailers there are asking for a “rates holiday” and the foolish council seems as if it is going to take notice. Evidently, they have no understanding of a fundamental principal in economics, Ricardo’s Law of Rent.