Partner Article

Newcastle surveyors welcome rates cash-back scheme but say more needed

The Newcastle office of property firm Lambert Smith Hampton has welcomed Communities Secretary Eric Pickles’ plan to introduce a £1,000 business rates discount for 300,000 small retailers.

A senior rating surveyor at the firm, Chris Wilkinson, said: “Without incentives to business, the economic recovery will not be sustained.

“The incentives offered by the Government, including a £1,000 cash back to 300,000 small business retailers and a cap on rates increases of 2% in 2014/15 is a positive, albeit small, step in the right direction, but more is required and soon.

Since 2008 business rates have also applied to in full to empty premises - a measure that Lambert Smith Hampton would like to see ended.

Chris added: “This policy has effectively acted to dis-incentivise new development. As a result there is an under-supply of grade A accommodation in some northern cities.

“By tinkering with the system the government is not encouraging growth which can be sustained.”

This was posted in Bdaily's Members' News section by Tom Keighley .