Business Rates reform could inject £4.4bn into the Northern economy

The Scottish Independence debate has opened a Pandora’s Box over the national devolution agenda. With   local councils struggling; it is now the time to give regional cities the means to grow from the inside.

Local retention of business rates could see £4.4bn injected back into the regional economies of Britain’s struggling areas. This alone would see Manchester receiving £1.3bn while Leeds and its surroundings would benefiting from £1.1bn of revenue from tax on businesses.

This would give local voices the power to shape local economic development, though a new strategy would need to be formed to clearly show how this would happen.

Business Rate Scam Warning

Scammers in Newport have been targeting small businesses, offering to negotiate better business rates. Ken James, a Newport hairdresser was targeted and nearly conned out of almost £500.

The scammers first called back in September, offering to apply to the valuation department to get the rates reduced. Mr James refused to take part, yet the next day received a letter saying thank you for selecting the company.

Even with Mr James refusing to take part in the scheme, he said the business was continually harassed and even sent invoices for over £400. 

The matter has involved the deputy police and crime commissioner for Gwent who have now teamed up to urge businesses in the city to be wary of the scammers.

Posted on: 11/11/2014