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Any other business

Finally, a business rates reform! If only I knew what it meant

Plus: George Osborne's cunning pension plan; and the delightful Denis Healey

10 October 2015

9:00 AM

10 October 2015

9:00 AM

This column has repeatedly cried that something must be done about business rates. Yes, it’s fair to ask businesses, as well as individual citizens, to contribute to local public-sector provision — even though businesses can’t vote. But it was far from fair during the recession to go on collecting £26 billion a year from hard-pressed firms based on an arbitrary multiplier applied to out-of-date rental valuations, in many cases long after those values had slumped to the point at which the rates were a higher cost than the rents.

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