23 FEB 2017

Therese Presses the Case with the Chancellor over Business Rate Increases

Therese led a small delegation of MPs to meet the Chancellor of Exchequer this week to press the case on behalf of independent retailers in Southwold and Aldeburgh, who are subject to some extraordinary business rate increases following the recent revaluation.

Under the revaluation, three quarters of businesses nationally will either see rates fall or stay the same, however the average rate rise in Southwold High Street is 177% and 70% in Aldeburgh High Street. Philip Dunne and Sarah Wollaston MPs for similar towns, Ludlow and Salcombe, were also present.

Therese said: "I pressed the case on behalf of our local small businesses. I put across that both Southwold and Aldeburgh have a large presence of independent traders, which have made them stand out as different to the chain-only high streets. Recognising the success of these places, national retailers have started to move in which has driven rental values upwards and subsequently rateable values. I asked him to consider the role of the mixed high street with tailored support. Without that, these thriving high streets could be much more limited in their offering to residents and tourists."

Therese added: "The Chancellor is now very aware of the particular issue in Southwold and Aldeburgh and is considering my representation. I am pleased, as the Prime Minister has highlighted in Prime Minister's Questions, that the case for helping small independent traders facing very high increases is being carefully considered."

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