Time is ripe for a dramatic rethink of business rates

I went with Julie into Wrexham town centre this afternoon and I can honestly say I was shocked by the rapid decline in the state of the place. Obviously we all know about Woolworths and despite M&S, Next and others moving to Eagles Meadow, there are so many empty units now, I despair for the future of the town. In addition to those mentioned, the empty units include Max Spielman, Top Shop, Burger King, Mark One and there's more than one looking decidedly shabby and having a whiff of gloom about it. I wouldn't mention the names of the small businesses that are desperate to compete with the larger names.

In Wales the small business rate relief scheme provides relief of 50% for business with a rateable value of £2,000 or less. Businesses with a rateable value between £2,001 and £5,000 receive 25% rates relief. It is clearly time that we stopped grinding down small businesses with the burden of business rates. Personally, I'd rather see them employ a small number of people and keep them off the dole queue, than pay this outmoded and constrictive tax. While it exists in its current form and compounded with the economic nosedive we're all in, what entrepreneur would risk taking on any of the empty premises in the town centre?


nick