The Government’s decision to reduce business rates relief on empty property is hitting the supply of new premises to small firms, particularly in deprived areas. Daily Telegraph
Evans Easyspace has postponed two new £6m developments planned for Merseyside and Staffordshire after it estimated the new tax will cost it £500,000.
Tom Stokes, managing director, said the tax rises failed to take into account the dynamics of the small business property market and would undermine efforts to supply office space to new start-ups.
Harry Platt, chief executive of Workspace Group, the leading small office space supplier within the M25, said he had no similar plans to reduce his investment programme but the tax rise was unwelcome. 'I am not happy about it. It’s an extra cost to us as a business,' he said.