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OF TUNBRIDGE WELLS
‘The rate hike means finding an extra £83,000 a year’ Robert Hogben Co-owner of The Mount Edgcumbe
Business rates backlash as traders fight closure By Adam Hignett adam@timesoftunbridgewells.co.uk
LOCAL traders face a ‘perfect storm’ of increasing rates, rents and rising inflation which will leave ‘large holes’ in the high street, the head of Kent’s largest business group has warned. The ominous prediction by Jo James, Chief Executive of Kent OF TUNBRIDGE WELLS
COMMENT Tunbridge Wells is viewed by those who do not live here as a well-to-do, affluent town with few real worries. And it is true
Invicta Chamber of Commerce, comes as some businesses in Tunbridge Wells and the surrounding area have been told their rates will more than double in April. It is one of four warnings to be issued this week by organisations representing traders in the town, including Royal Tunbridge Wells Together and the Kent branch of the Federation for
we enjoy a thriving local economy that does make it a great place to earn a living and bring up a family. Much of that could change with Government plans to introduce the first business rates revaluation in seven years. More than a quarter of
Small Businesses. Particularly hard hit are those operating in the hospitality sector, many of which are being urged by The Association of Licensed Multiple Retailers (ALMR) to lobby their local MPs and express their ‘dismay’ at the ‘punitive’ business rate rises. Kate Nicholls, head of ALMR, said the group is actively seeking case studies of ‘particularly large companies nationally are facing higher bills and many of them operate in Tunbridge Wells. Not all businesses will be hard hit although enough will be targeted for increases so big as to cast doubt on their long term viability; that’s the
or unfair’ increases in constituencies whose MPs – such as Business Secretary Greg Clark – are ‘key ministers’. The Mount Edgcumbe, on Tunbridge Wells Common, will be particularly hard hit after being told its rateable value will go up from £40,000 to £86,500 in the next financial year. Landlord Robert Hogben said the lack of understanding from the Government over what will happen means businesses like his will ‘just close down’. He added: “I was first notified that the VOA (Valuation Office Agency) had reassessed our rateable value in October. “After looking at the VOA website I saw our rateable value had gone from £40,000 to £86,500. This means with the rates set at 0.49.7p in the pound the £19,880 a year we pay at the moment will more than double to around £43,000.”
Short-sighted Mr Hogben believes he will have to increase his weekly turnover by eight per cent, or £1,600, to cover this additional tax burden. That equates to £83,000 per year. He continued: “We have spent a great deal of time and money refurbishing The Mount Edgcumbe since we bought it five years ago to make it what it is today. “I think that this is very short sighted of the Government’s VOA team who don’t really understand the true implicareal danger. As owners count the cost, the temptation will be to shut up shop, a move that will have a ripple effect throughout the local economy. That’s why this newspaper is supporting calls for the Government to rethink its position on business
tions to the high street shops and businesses like ours which will just close down.” His concerns are far from unique, and have led to a growing backlash against the government’s proposals. Leading the calls for a govern-
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Wednesday February 22 | 2017
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‘We would urge a rapid rethink of this’ ment rethink is Mrs James, whose organisation represents 1,200 businesses in Kent – a county which will be particularly hard hit by the changes. She said: “Many small businesses are facing a perfect storm that will see many struggle to survive, leaving large holes in our high streets and business parks. “Many of them are experiencing increased rents, and rising inflation on the cost of goods they are buying which can’t fully be passed on to the consumer. Many have been hit by the fall in the Pound are now staring down the barrel of a massive hike in rates. “If the Government wants to increase growth and productivity, it needs to keep businesses in business, it’s that simple. This is a way of raising £1bn from business, but at what cost to the overall economy? We would urge a rapid rethink and call on all local authorities to join us in lobbying our local MPs.”
Continued on page 2 rates and for our MP Greg Clark to press the case for that review in support of his constituents. Tunbridge Wells has been built largely on an entrepreneurial spirit that exists in the town. We must not allow that spirit to be dampened.
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