Business Rates Update

Published on 06 October 2015

The announcement by the Chancellor of the Exchequer that Business Rates would “stay local” has been welcomed by the Bedford Business Improvement District (BID).

“All of our BID levy payers are Business Rate payers as well and we welcome the idea that money that is raised locally is spent locally,” said BID Director Christina Rowe,

“But when we say local we mean the Town Centre where 100s of businesses pay rates which previously went off to Westminster. Now they are going to stay local we want that money to be spent where our businesses think it will most benefit the town centre economy in terms of supporting a safe, clean and inviting town centre.

“We know that the the devil will be in the detail of this announcement and we have already sought clarification of some points via the MP for the town centre Richard Fuller and will be reporting our findings to our town centre businesses.

“It is going to be important that the existing voice of businesses in the town centre, the BID, makes sure we get our fair share of all services supported by Business Rates raised locally. There has been a mention of some regional element being involved, but the BID is here to fight the corner of Bedford Town Centre.”

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