Port rates fiasco finally brought to an end

The Government has taken action to waive and repay their bills, finally lifting their heavy debt burden.

Visiting AB Ports in Ipswich, Mr Neill said that the Government’s work to support port businesses, the backbone of Britain’s global export industry, has already helped them continue to thrive and grow, and that they would now be able to move forward confidently without the unexpected return of extortionate business rate bills.

A review of ports by the Valuation Office Agency in 2008 meant that many port based companies faced business rates bills backdated to 1 April 2005, cumulatively reaching into the millions. Many businesses campaigned against the demands as they were seriously damaging the industry’s competitive advantage.

Government action to cancel these unfair, retrospective rates bills means that port-based businesses can now either scratch the debt entirely from their records or, if they had paid their bills already, expect a rebate in the near future. The policy will also benefit businesses outside of ports, which meet the criteria.