The Government has today announced that the conclusion of HM Treasury’s Fundamental Review of Business Rates has been delayed to the autumn.
Reacting to the news, UKHospitality Chief Executive Kate Nicholls (pictured) said, “The business rates system as it relates to hospitality has been broken for some time. It is an antiquated system of tax that bears almost no relation to the realities of business in the 21st Century. It needs addressing, so a delay in the review is obviously a disappointment.
“If it must be delayed, then it is absolutely vital that the Government uses the extra time to ensure it gets this right. After the misery of last year, a properly functioning, equitable rates system is now more critical than ever.
'In the meantime, there is now no reason why the business rates holiday should not be extended for another year. Extend this support, along with the VAT cut, at the Budget, then deliver a whole new rates system that no longer unfairly penalises our sector.”