April tax hikes will add pressure on business cash-flow
31/03/09 | 15:32
Business rates and fuel duty will increase 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.”
Ends
Media Contacts:
Fiona Cunningham
Tel: 020 7654 5812
Email: f.cunningham@britishchambers.org.uk
OR
Sam Turvey
Tel: 020 7654 5813
Email: s.turvey@britishchambers.org.uk
Notes to Editors:
The British Chambers of Commerce (BCC) is the National Voice of Local Business.
The BCC sits at the heart of a powerful nationwide network of Accredited Chambers of Commerce serving business across the UK, which employ over five million people.