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Darling gives firms more time to pay business rates

Chancellor Alistair Darling has scaled back the 5 per cent rise in business rates due today to 2 per cent for this year.

Companies will also be able to defer the remaining 3 per cent of this year’s up-rating over the next three years.

Rates are uprated each April in line with the retail price index for the previous September but the 5 per cent planned hike would have come at a time when inflation has fallen to zero.

The reduced rate follows intense lobbying from business leaders and UK councils with concerns that a 5 per cent rise would stifle cash-strapped businesses in the current economic climate.

In an official statement, the Chancellor of the Exchequer said: “”The Government recognises that businesses need help now to ease their cash flow at a time when money is very tight.”


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By Ewan McAlpine, Senior Client Portfolio Manager In uncertain times, investors naturally seek safety. But in fixed income markets, what does that really mean? Ewan McAlpine outlines the approach RLAM’s Fixed Income Team will be adopting across its credit funds in response to potentially volatile markets this year. Click here for full article


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