Day: 30 October 2018

Business rate relief good news for Ludlow and Shropshire’s market towns

Chancellor Philip Hammond yesterday afternoon announced a significant but temporary reduction in business rates for smaller retail businesses. This is good news for market towns like Ludlow. For the next two years, the Chancellor’s statement will reduce crippling business rate bills by around £500,000 over the next two years in Ludlow. We are a town with more than 70 independent retailers. That money will help local businesses survive. It will be pumped back into Ludlow’s economy. The news of a tax on digital retailers is also good news. Our high streets are not in competition with the internet giants but they should not be left at a disadvantage because of the business rate burden they face.

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