As reported in the Telegraph this morning, Fashionista is delighted that the government has agreed to stagger increases in business rates on properties over the course of the next two years.
A 5% increase was due to be enforced on 1 April 2009, however due to effective lobbying this will now be introduced as a 2% rise. The remaining 3% will be recouped over the next two years.
Fashionista predicts that there will be a flurry of rate payers contacting their local council's to request revised payment plans to assist with managing the increased costs. Any cost saving are welcomed in the current climate.