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Tory rate hikes are killing SMEs

This article was first published on Progress Online.

27 February 2017

Philip Hammond’s devastating business rate hikes should put to bed the myth that the Tories are the party of small businesses, argues Ibrahim Dogus

The news of catastrophic business rate hikes should put to bed once and for all the myth that the Tory party is somehow a friend to small and medium enterprises. Small and medium-sized businesses across the country are facing closure thanks to rate hikes so extreme that they may no longer be able to turn a profit. Businesses in London are seeing a rise of 42 per cent on average, varying depending on area. Businesses in Southwold in Suffolk, at the most extreme end of the rate hikes, will be seeing an increase of 152 per cent this April.