More Putney businesses pay less from rate revaluation

My team and I have been sifting through all the Business Rates data following our discovery that Putney's Conservative MP misled people about the changes in her Roehampton newsletter.

The reality is even more disturbing - suggesting that she's presenting the wrong figures across the entire constituency.

Excluding phone masts, advertising hoardings and car parking spaces* which are liable for business rates but not businesses themselves 1,021 Putney, Roehampton and Southfields businesses are going to have their business rates cut; 899 are going to see them increased as a result of the revaluation.

The majority of Putney businesses will pay less after revaluation.

Doesn't sit easily with the Conservative scare-stories does it?

It's also the case that the vast majority of both falls and rises are small. 208 of the increases, and 287 of the decreases are of 5% or less.

There are some big winners and losers here in Putney - as anywhere else - and I'm not going to repeat Miss Greening's mistake of over-claiming or mispresenting the facts. Some businesses are facing large increases in business rates through revaluation, and no doubt for them, this will make life much more difficult. But more are facing business rate reductions - of up to 67% here in Putney, and for them, that's clearly welcome. The issue is simply whether it's fairer to use old, out of date information as the basis for business rates or new, up-to-date records that take account of where things have got better and worse.

Business rates need to be reviewed because that is the fairest way of levying taxes. It's never going to be popular - not because it's unfair but simply because none of us enjoying paying tax, especially if we end up paying more as a result of a revaluation.

Piling taxes on the most struggling parts of Putney, Roehampton and Southfields isn't fair and it isn't right. That's what Miss Greening is campaigning for - that's what the Conservatives stand for.

*For those of you who want to know the complete data set including phone masts, parking spaces and hoardings, it's 1,035 increases, 1,152 decreases - still more winners than losers.