Mayor of London warns business rates do “not go far enough”

The Mayor of London, Sadiq Khan

The Mayor of London, Sadiq Khan has warned that many businesses will fail as a result of concessions on business rates given in the spring Budget.

He said that they do “not go far enough” and will keep pressure on government ministers to make it easier for entrepreneurs and start-ups, to help grow their businesses.

The Mayor said: “I have warned the Government of the devastating impact rising rates will have on London’s business community.

“While I am pleased that the Chancellor addressed some of these concerns in the Budget, the measures that he announced did not go far enough and the fact is that many London businesses could be forced to close for good as a result. 

“I will continue to push home the message to ministers that businesses need to be given the incentive to grow.”