Empty Business Premises Still Cost Money
I had resolved not to write any more articles with the recession as a subject.
However it continues to be a recurring subject of conversation wherever I go. It is acknowledged that this time it is different and requires different solutions. It is undoubtedly time to stop some of the political arguments and work together.
In many towns up and down the country businesses are still closing and the High Streets continue to see the number of boarded up premises increasing. There is no doubt that the Government response to payment of empty property business rates is not helping.
Empty property rate relief was abolished, hastily, in April 2008. In the Pre Budget Report in 2008 the Chancellor announced that it was to be reinstated, for one year only (April 2009 to March 2010) for empty properties worth less than 15,000. Whilst that was a welcome step in the right direction, the threshold of 15,000 is insufficient.
Business rates are the 3rd largest cost for small businesses after salaries and rent. While revenue from small business is small in proportion to the total business rates revenue, as a proportion of their turnover, rates bills can be at least 3 or 4 times higher for smaller businesses. In particular retailers are hit hard as they occupy a significant amount of commercial property.
As a result some property owners are trying to lease property for as little as 50 pence per square foot because they cannot pay the rates. Other companies are profiting from needlessly demolishing empty properties whose owners cannot afford to pay the tax. The withdrawal of empty property rate relief in April 2008 was spectacularly badly timed and ill-judged.
This problem does affect Bexhill. It has however enabled Bexhill and Battle Liberal Democrats to obtain shop and office premises. This in turn is helping a property owner and ensuring that rates continue to be paid.
I am very pleased that this Saturday, 28th March, will see the official opening of our new shop at 27-29 Station Road at 1.00pm by Norman Baker Liberal Democrat MP for Lewes. The shop will be open from 11.30 on that day for anyone who wants to drop in, and we shall be offering light refreshments following the opening.
Do call in and see us. You can merely browse and hopefully buy the merchandise we have on offer or merely talk. We will be very happy to discuss local and national issues and keep you informed of our detailed policies and other events which we organise.
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Weather for Bexhill-on-Sea
Saturday 26 May 2012
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