Rates reform urged

FSB urges Chancellor to deliver rate reformThe Federation of Small Businesses (FSB) has called for business rates reform, urging Chancellor Sajid Javid to help smaller firms hit by Brexit uncertainty with new measures in next month’s budget. The FSB wants the Retail Discount - which allows retailers whose property is worth up to £51,000 to claim a 33% discount on their rates bills - to be increased to 50%, made permanent and extended to small firms operating in other sectors. The body is also calling for the threshold for small business rates relief to be increased from £12,000 to at least £30,000. FSB chair Mike Cherry commented: “We need to see the Chancellor step up to the mark next month with measures that will reinject optimism into the small business community and enable growth. Otherwise, we're in for a very bleak winter."