LONDON MAYORS FIRST JOB IS TO ADDRESS BUSINESS RATES

Earlier on in May, the new mayor of London, Sadiq Khan was elected and the Federation of Small Businesses is urging the new mayor to prioritise the reform of business rates in his first 100 days.

The top three small business priorities for the Mayor over the course of the next four years are: the reform of business rates (37%), improving affordability and availability of commercial space (34%) and improving the availability and affordability of housing (32%).

Sue Terpilowski OBE, London Policy Chairman, Federation of Small Businesses, said on the matter of business rates, “Now that we have had proper business rates reform in Scotland, followed by England and Wales, the focus must now turn to London - especially with all eyes on a new Mayor at City Hall.  The average rateable value of a property in the capital exceeds the next closest region (the South East) by around £23,000 and so it is critical that fiscal devolution of business rates meets the needs of London’s small businesses.”

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