The Government are about to bring in a massive increase in business rates based on property prices from April 2008 when the property market was at it's height.
We estimate this would leave the average business in Islington with a 35% increase in business rates. Local businesses closest to central London will be even harder hit with an estimated 50% increase in the business tax.
We the undersigned, call on the Government to scrap it's proposed hike in business rates. Businesses in Islington are already struggling because of the recession and the Government should be doing all they can to help businesses instead of increasing the tax burden on them during these hard times.
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