The Small Business Rate Relief (Automatic Payment) Bill if passed would see rate relief automatically granted to small businesses. At present many small businesses are unaware of the rate relief and therefore do not apply for it. The Local Government Association found that in 2006 £400 million was left unclaimed by businesses entitled to rate relief. The bill is timely as around 85 businesses are closing every week.
"Rates are the third largest expenditure for small businesses after wages and rents. As the economic down turn continues, a boost from the rate relief would be appreciated by many who are currently struggling.
The money has already been ear-marked for the purpose of rate relief, but this bill would ensure that no small business entitled to the relief would miss out.
Businesses in rural communities like those of Somerton and Frome, have consistently faced difficulties. It is important that this bill gets through parliament, particularly for small rural businesses, which is why I am giving my full support for the bill."
