Catherine Gras 22/05/2019
The Treasury Committee, chaired by Nicky Morgan MP, was today listening to evidence on the impact of Business Rates on investment.
The hearing was organised in two panels representing a large range of sectors: farmers, retail, manufacturing and storage operators.
Two hours of Committee’s time is quite significant and reflects the challenge this tax is presenting for the economy.
All panel members shared their concerns about this tax, how it is negatively affecting investment decisions and also how it could drive some companies out of business.
The current system is not working anymore and the main question is thus: can it be reformed or should we rethink the tax system completely?
As a representative of a business and a sector that has been impacted so much from Business rates, my priority is to fix quickly what can be fixed and then open the discussion for a complete reform. There is a need for immediate action and it would be a mistake from my perspective to wait another five years before we are able to deliver a smarter and fairer system. One quick fix is the end of the transitional relief system and yearly evaluations based on self assessment.
Our position of this subject can be found here: Paper submitted to the Treasury Committee
I would like to thank the Treasury committee for daring to open the Pandora Box and hope that we will finally be able to move forward on this matter.
Energy is our future, save it!