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CBI yesterday commented on new bill to modernise Business Rates.

Louise Hellem, CBI Director of Economic Policy, yesterday said:

“These steps to modernise the business rates system are a significant move in the right direction, helping to make it fairer and reduces the penalty some firms were facing when making improvements to their factories, restaurants and offices to become more energy efficient.

“More frequent valuations and greater transparency will build confidence in the system for businesses and better reflect the economic conditions they’re operating in. However, long-term reform is still needed to reduce the business rates burden where the UK still has the 4th highest property taxes in the OECD.”