Theresa May has expressed concern over the news that Maidenhead business rates could go up by more than 50% in the new financial year. With the economy still in recession this rise could leave small businesses struggling to survive.
The rates are set every five years based on a calculation of the property’s worth with a multiplier set by the Government. Theresa said, “This is devastating news for local businesses. In Maidenhead and the surrounding area many of our local shops and village stores provide a valuable service to their community and I am extremely concerned that this rise in business rates may force some of these stores to close in what are extremely difficult times. We are waiting to hear the multiplier from government but once this is announced next month I will be taking this up with the Minister responsible.”