OpinioN8

Connecting Crouch End and Hornsey with news, views and information

Haringey has begun a consultation on a discretionary system of business rates relief. Business rates are a substantial burden on many businesses, and we know from the 'likes' of Crouch Enders how much they favour their independent shops and restaurants. So it may be that the outcome of the consultation is a good thing. 

Some of the new proposals include:

  • Introducing a three-year 30 percent relief scheme for new and converted work spaces, to encourage more start-up and creative industry and boost employment in Haringey.
  • Offering business rates relief to organisations hoping to run temporary activities, such as pop-up markets and retail units, at regeneration sites
  • Updating the existing policy on discounts to voluntary, charity and community groups to ensure it is fair and supports those that most benefit local communities.

I believe there is a principle in economics that any intervention in a market will distort it in unpredictable and inappropriate ways - if only because participants in the market will think of smart ways to outwit the legislators. So intervening in the business rates intervention will be doubly fraught!

Any hoo , please do have a think about it and respond to the business rates survey on the Haringey website

You can download the  proposed changes to business rates relief in Haringey consultation ... and complete the consultation online:

Complete the business rates relief policy survey

Alternatively, download and complete the  business rates relief policy survey (Word, 134KB) and return it topolicy@haringey.gov.uk

Here you can read what Alan Stanton thinks about the likely market distortions this will bring about (a comment on the Tottenham Independent news article)

Tags: business rates, consultation

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