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A missed chance to fix rates system


Source: Shutterstock/ Ilyas Tayfun Salci
Surely expanding the furlough scheme until September indicates that the economy will not recover by June, so why hasn’t Rishi Sunak provided the same extension for business rates relief?
Swathes of businesses will not benefit from the extension. Offices are excluded from rates relief, as are medical use buildings, even though they are on the frontline of the pandemic. Shops that have been able to stay open may not be able to benefit from the two thirds reduction after June. Finally, empty properties don’t get any retail relief – why?
The £6bn tax cut and £5bn grants package will offer a lifeline to many businesses. However, it is disappointing that this extension was not announced earlier when we entered the third national lockdown, giving businesses and landlords critical time to budget. ....

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