Two takes on the increase in business rates:
Martin vander Weyer in the Spectator says that the idea that it can be defended because it is revenue neutral is bunkum. He writes, “a smarter calculation of ‘revenue neutrality’ would take account of profits generated, jobs created and benefits unclaimed in thriving towns and high streets. On that basis, the Treasury would be better off if there were no rises in business rates anywhere.”
But Tim Worstall on Cap-X believes that the increases make sense and the market should dictate: people who use less land, and less expensive land, should pay less tax than people who use more and more expensive. He believes we’re not converting empty pubs to houses and shops because of business rates, but because those alternative uses are more valued by the market in the first place.