Small Businesses Will Benefit From Our Cut In Business Rates

12.00.00am GMT Sun 20th Mar 2005

Susan Kramer and Malcolm Bruce: The Liberal Democrats have proposed a Business Rates Allowance of up to £1500 which would grant relief to all firms with a rateable value of less than £25,000 a year giving the majority of small businesses a reduction worth more than £600 a year on their annual rates bill

Susan Kramer, parliamentary campaigner for Richmond Park, launched the Liberal Democrat plans to boost businesses and help local small companies. Smaller businesses in Richmond and Kingston would benefit from a new Business Rates Allowance to reduce the burden of local rates on their running costs. For the majority this will cut £600 a year from their rates bill.

Susan Kramer said:

"The burden of taxation falls more heavily on the shoulders of small businesses.

"Under the current system smaller businesses, including local businesses in Richmond and Kingston, usually pay a much higher proportion of their turnover in rates than the largest UK companies.

"Rate relief is important to make the system fairer.

"The Liberal Democrats have proposed a Business Rates Allowance of up to £1500 which would grant relief to all firms with a rateable value of less than £25,000 a year giving the majority of small businesses a reduction worth more than £600 a year on their annual rates bill.

"There will also be new proposals to cut the amount of red tape falling on local businesses and we will also review the tax regime for small businesses with the emphasis on fairness.

"Local employers also need skilled workers. We will give a real boost to apprenticeships and other recognised work based training by making it possible for pupils of 14 and over to combine these with academic classes. Our new diploma would eliminate the stigma often surrounding vocational studies.

"Skills shortages hamper local businesses and constrain the talents of young people. Our proposal will address both."