NEW WEST END COMPANY’S RESPONSE TO THE SPRING BUDGET
Thu 9 March 2017
Statement from Sir Peter Rogers, Chairman of New West End Company:
“We are disappointed by the Chancellor’s announcement. He has missed the opportunity to deal with a major concern for London businesses. The short term relief he announced will have no impact on the majority of the companies in London and the West End which will suffer massive tax increases on April 1st. This will mean closures and job losses.
“The current system is good for civil servants but bad for business. We hope that this Parliament will be the last one to oversee a business rate revaluation. We will push for the Chancellor’ review to take a more fundamental look at how the business tax system can more effectively respond to the government’s duty to finance local services with the need for all businesses to pay their fair share. The review should look beyond digital businesses to ensure that all companies, particularly multi-nationals, make a fair contribution to Britain’s tax take.
“New West End Company is happy to work with the government and others to explore a more effective and equitable system.”