Business rates review is a must for Chancellor says Lancashire entrepreneur
A review of business rates which cripple small businesses must come from the Government, a Lancashire business leader has said.
Norman Tenray, chief executive of OBAS UK, the Longridge-based construction group, said Chancellor Rishi Sunak had an opportunity to support the firms which employ millions of people across the country.
The Government announced discounts in rates during last year’s Queen’s Speech but many business groups including the British Chambers of Commerce has called for greater reform.
OBAS UK is sponsoring the Small Business of the Year award at The BIBAs, the awards which close for applications from firms across Lancashire later this month.
Mr Tenray said: “Business rates are the enemy of growth and investment and a completely outdated system which needs a complete overhaul.
“The short-term relief the Government offered last year is a start, but it cannot stop there, it must remove the costs which prevent businesses from creating jobs and prosperity for our economy.
“We need to see a package of fiscal measures which stimulate investment and complete moratorium on all new up-front costs for businesses for the duration of this Parliament.
“Few Chancellors will ever be in the position Mr Sunak is today and he must use this strength to the advantage of small businesses.”
The BIBAs is the awards known as “the one they all want to win” across the Lancashire business community and has 20 prizes up for grabs for businesses of all sectors and all sizes. The deadline for applications closes on Friday, March 27.
Following the deadline, the awards’ organisers, the North and Western Lancashire Chamber of Commerce, will review entries before handing them over to its judging panels.