Gosport MP Caroline Dinenage has welcomed news that 2000 business properties across her constituency will benefit from a package to help the high street and support businesses at the Autumn Statement today.
The package includes a 2% cap on business rate increases as well as a business rate discount of up to £1000 for retail premises. Furthermore, the doubling of Small Business Rate Relief will be extended until April 2015 and a new reoccupation relief will halve the rates bills of businesses taking over premises which have been empty for over a year.
Speaking in the aftermath of the Statement, Caroline commented:
"I am pleased that the Chancellor has announced plans to reduce the huge burden of business rates which constrict the growth of local businesses in Gosport and across the country. It is great news for small businesses who will now have more capital to reinvest in their enterprise and stimulate growth.
High street businesses are an important part of local life which is why I am backing Small Business Saturday this weekend. I hope as many people as possible from across the area will show their support for local businesses and shop small."
A small business owner for over 20 years, Caroline has championed the cause of small businesses since her election. This year she was appointed Small Business Ambassador for the south by the Prime Minister.