GBP News 

General election 2017: end tax assault on British businesses, BCC warns

“Lobby groups have already urged the Government to bring forward a pledge to switch the uprating of business rates from the higher retail price index (RPI) to the lower consumer prices index (CPI) from the start of the next decade” writes Szu Ping Chan for Business rates raise more money for the Exchequer than fuel duty, with receipts set to climb to £33bn by the start of the next decade, according to official forecasts. The BCC will say it is vital that the system is “more responsive to both local economic conditions” and the wider business cycle. “For UK businesses to compete globally, they need a competitive environment here at home,” the BCC will say. “The myriad of upfront taxes and costs imposed in recent years – including increasing business rates, the introduction of the apprenticeship levy, and the hikes to insurance premium tax amongst others  are all increasing the burden on firms before they even turn over a single pound.”.

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