Business rates a ‘ticking time bomb’ for small firms

Business rates are a “ticking time bomb” for small companies in England which should be offered emergency help, the shadow business secretary has said.

Labour’s Rebecca Long-Bailey said many firms faced “cliff-edge” rises when new valuations take effect in April and that the process had been mishandled.

The government says it has established a £3.6bn transitional fund to help businesses facing big jumps in rates.

A spokesman said the changes meant all businesses would get a “fair deal”.

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Source: BBC News Retrieved 26 February 2017, from http://www.bbc.co.uk/news/business-39098801