Business rates and fuel duty will increase tomorrow (Wednesday), while a transitional relief for commercial premises will end threatening to triple payments for some businesses. The changes will add even more pressure on the finances of companies struggling during the recession.
Commenting, Director General of the British Chambers of Commerce (BCC), David Frost, said: “It’s not an exaggeration to say that some companies could go bust under the strain of the increase in business rates, fuel duty and the ending of transitional rate relief.
“At a time when businesses are facing the harshest financial challenge in a generation, they are being hit with a possible tripling of payments.“This doesn’t make any sense in an economic downturn. It will be business that drives the UK out of this recession so I would urge government to find a way of supporting firms with these extra costs.”