Business rates revenue to exceed council tax by 2015

Business rates income in Great Britain will surpass council tax revenue in 2015 – the first time in ten years, according to figures in the Grimsey Review of the high street. Business rates income is predicted to peak £29.6 billion in 2015, while council tax revenue will reach £29.1 billion. Paul Turner-Mitchell, high-street campaigner and key contributor to the Grimsey Review, said the Government was encouraging local authorities to freeze council tax while not doing anything about rising business rates. Commenting on the prediction, Ed Cooke of the British Council of Shopping Centres (BCSC) said: “It does look a lot like the Government sees business as a cash cow to raise taxes for local authorities.”
Read more about this at:
http://www.retail-week.com/property/business-rates-income-to-exceed-council-tax-for-first-time-in-10-years/5052536.article

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