BUSINESS RATES REFORM

That this House is aware of the disquiet and anger amongst businessmen and women concerning annual inflation-linked increases in business rates, regardless of the ability to pay, or wider economic circumstances, especially those which inhibit growth and investment; and believes that whilst acknowledging the two per cent cap and limited relief options offered in the Autumn Statement, in the present period of austerity the Chancellor should immediately announce a two-year freeze in such payments and commit to a thorough review of this current fundamentally flawed system with the view to replacing it with a mechanism that is fair and one which enables companies to generate jobs, create wealth and growth within communities.