Damian Hinds has welcomed the news that 4000 business properties in East Hampshire will benefit from business rate changes announced by the Chancellor in the Autumn Statement.
Retail premises, including shops, cafes, pubs and restaurants, will receive a business rate discount of up to £1,000 as part of the government’s plans to help local high streets.
Measures announced include:
- A 2 per cent cap on everyone’s business rate increases.
- £1,000 off business rate bills for all retail premises with a rateable value of up to £50,000 for 2014/15 and 2015/16.
- A new reoccupation relief, which will halve the rates bills of businesses taking over premises empty for over a year.
- The doubling of Small Business Rate Relief is being extended to April 2015 and expanded.
Damian Hinds said:
“Local businesses are extremely important to the economy of East Hampshire, providing services to the community and acting as valuable sources of employment.
“I maintain that it is important to allow small and medium enterprises to thrive, so I was pleased to hear of the business rate reductions in the Autumn Statement which will benefit thousands of companies in East Hampshire.
“In an area of England with numerous market towns, it is vital that we support our high streets – they are such an important part of local life. These changes should strengthen the shops, cafés and restaurants of towns such as Petersfield, Alton and Bordon so that they can continue to provide enjoyment – and employment – to our communities.”