9,000 business properties in Wandsworth will benefit from a package to help the high street and support businesses announced by Chancellor George Osborne at the Autumn Statement today.
Dan Watkins, Parliamentary Candidate for Tooting and local business owner has welcomed the news that will boost jobs and growth in the area.
The package includes a business rate discount of up to £1,000 for retail premises, including shops, cafes, pubs and restaurants, as help for the high street.
Measures announced include:
- A 2 per cent cap on everyone’s business rate increases.
- £1,000 off business rate bills for all retail premises with a rateable value up to £50,000 for 2014/15 and 2015/16. This includes shops, cafes, pubs and restaurants.
- A new reoccupation relief, which will halve the rates bills of businesses taking over premises empty for over a year.
- The doubling of Small Business Rate Relief is being extended to April 2015 and expanded.
Dan commented: “I wanted the Government to listen to calls from local businesses for lower rtand they have.
“Nine thousand businesses in Wandsworth will benefit from the overall package of support – especially the shops, pubs, and cafes on our high streets, who have suffered from increased competition from the internet recently.
“High street businesses are an important part of local life. We are backing local businesses all the way. With Small Business Saturday this weekend Conservatives are giving businesses in Tooting the help they need to grow and create jobs.”