Experts Call for Immediate Action to Support Businesses
- Colliers International calls for a rates deferment scheme amid COVID-19
- Three or six-month business rates deferment proposed
- No restriction on State Aid rules as it will be paid back later
- Government to plug the hole in local authority finances
- Businesses can maintain cash flow with deferment
- Colliers suggests ‘Material Change of Circumstance’ appeal option
Business rates experts at Colliers International have called on the UK government to introduce a three or six-month deferment scheme for business rates payments, arguing that it would provide much-needed breathing space for businesses struggling due to the coronavirus pandemic. The proposal would not be subject to restrictive State Aid rules as it would eventually be paid back when economic conditions improve. Colliers International’s John Webber said: ‘We are facing an Economic Battle of Britain, and if Boris Johnson wants to follow in the footsteps of our wartime leader, he must prove it.’
Factuality Level: 8
Factuality Justification: The article provides accurate and relevant information about the call for a business rates deferment scheme by Colliers International and includes quotes from John Webber, head of business rates at Colliers International, to support its claims. It also discusses the potential economic impact of the coronavirus on businesses and suggests that the government should take immediate action. However, it contains some opinionated language and a comparison to wartime leaders which may be seen as exaggeration.
Noise Level: 3
Noise Justification: The article provides relevant information about the call for a business rates deferment scheme by Colliers International and includes quotes from John Webber, head of business rates at Colliers International. It discusses the potential economic impact of the coronavirus on businesses and suggests possible measures to support them. However, it lacks in-depth analysis or exploration of long-term trends or consequences of decisions. The article could benefit from more evidence and data to support its claims.
Financial Relevance: Yes
Financial Markets Impacted: Business rates and Government relief measures
Financial Rating Justification: The article discusses the call for a three-month or six-month business rates deferment scheme to help businesses impacted by the coronavirus, which would affect local authority finances and potentially impact financial markets through changes in business rates and government relief measures.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no extreme event mentioned in the article.
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