The business rates should be re-valued in 2015, however this has been pushed forward to 2017. The cynics will suggest that this subject is such a hot potato that the government couldn't possibly have this on the agenda in an election year!
The problem is of course is that under this system which is based on commercial rents, rents have reduced sometimes by more than half. In turn this means that the rate will have to increase significantly to achieve even a level income. Whichever way you look at it, the old system has had its day, but it will take a very brave and charismatic leader to reform this one and keep everyone happy. I don't think we have one available, so the problem will continue to strangle business and thwart progress for years to come.
Empty rates and now of course empty property council tax may well be held us as incentives to Landlords to get empty properties let, but in reality it causes rents to fall even further and Landlords less willing to improve their properties because of the higher cost burden. All in all this is as much of a disaster for the business community has the internet has been for high Street retailing.
