The amount that British companies pay in business rates is growing at almost the same level as council tax and fuel duty combined.
Estimates from the Office of Budget Responsibility show that the amount generated will grow by 41% by 2018, generating £32.3bn for the Treasury. Retailers are leading calls for relief measure put in place in last year’s Autumn Statement to be extended, which capped the inflation-linked rise at 2%.
Some of the country’s biggest manufacturers have written to the Treasury to say that the tax is ‘not fit for purpose’.
Daily Telegraph Business, 3
