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'Scrap empty premises tax,' plea

5:45am Wednesday 23rd July 2008


THE incoming president of the British Chambers of Commerce is urging the government to scrap empty premises tax.

Chartered electrical engineer Neville Reyner has written a letter to the government asking for the tax which was introduced in April to be scrapped.

“In the current worsening economic climate, these changes are compounding the current financial difficulties."

Incoming president of the British Chambers of Commerce Neville Reyner

The treasury has estimated that the new tax will cost UK businesses £950m this year and a further £900m in 2009 to 2010.

Mr Reyner said: "Our members are telling us that these changes are hurting their businesses at the worst possible time.

"Companies are dependent upon the ready availability of factories, shops and warehouses to conduct their business and the new empty premises tax is slowing down an already weak property market.

"There is a greater reluctance among developers to be involved in commercial property investment and regeneration schemes.

He added: "There has been an increase in demolitions of usable buildings and serious financial problems for businesses facing paying the new rates.

"In the current worsening economic climate, these changes are compounding the current financial difficulties.

"This view is shared across the entire business community and I urge the government to reverse this damaging tax," he concluded.


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