Business rates 'must be lowered' - commercial mortgages

16 April 2009

The government must lower business rates in order to help companies survive, it has been claimed, something that may affect those with commercial mortgages.

Richard Dodds, head of media and campaigns for the British Retail Consortium, noted that the chancellor has postponed a business rate increase, but argued that this is only a temporary measure.

He also criticised plans for empty commercial premises to be used for community projects, saying that it would be better for firms to be supported so that the properties remain occupied.

"It would make much, much more sense to be supporting retailers to continue trading in those shops," he remarked.

Mr Dodds was commenting after communities secretary Hazel Blears called for vacant stores to be put to other uses to prevent a decline occurring on high streets.

Up to £3 million is to be provided for towns to create ways to reduce the negative effects empty shops can have on an area.

Find out more on our commercial mortgages and how we can help you achieve your aims – enquire online