Francis Maude Hears From Black Country Business in Stourbridge
16th June 2007
Conservative Party Chairman Francis Maude visited Folkes Holdings and Pub of the Year nominee Windsor Castle on his recent visit to Stourbridge.
Carl Griffin, Managing Director of Folkes and other executives voiced their concerns about business in the Black Country . Top of this list currently is yet another stealth tax on business brought in by Gordon Brown in his last budget.
The availability of high quality industrial property for rent is crucial to a dynamic economy and its provision is now under threat. Prior to the budget, property companies did not have to pay rates on unlet property. Just as empty homes do not pay council tax for services not being used, so businesses were also exempt.
Not any more. Property companies will now have to pay full business rates on any unlet properties. This will lead to a contraction in the amount of property available to business which will in turn inhibit the ability of companies to expand quickly to meet demand. This is yet another example of the damaging effects of stealth taxes on the competitiveness of our businesses in the Black Country.
Other issues of concern to business raised were tax in general, transport and the raid on pension funds. Also with regard to pensions of course, the rising discrepancy between the future retirement income of private and public sector employees.
Photo: Margot with Francis Maude and MD of Folkes Group, Carl Griffin.
