09/07/2009 - £2bn to ease rates rise for firms
The Government has announced plans for a £2 billion relief scheme to support businesses facing rates increases as part of a five-yearly revaluation.
Around two thirds of firms will see their bills fall next year as a result of the revaluation, but others including supermarkets will be charged more.
It is hoped the scheme will ease the burden on businesses facing a rise by limiting and phasing in any increases.
Local government minister Rosie Winterton said: "Overall, the effect of revaluation for the majority of businesses could be a reduction in their rate bills next year, with some of the largest decreases in sectors such as industry and manufacturing.
"But while most will see falls, for the minority with increases we are putting in support to help keep down potential rises."
A consultation into the scheme has been launched to ask businesses how they think the scheme should be run to be most effective.
Ms Winterton added that other support is available for businesses including discounted rate bills for small companies, deferring tax payments and free business health checks.
Copyright © Press Association 2009
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