Finance chiefs' rates warning

By Heather Jameson | 10 February 2021

Potential cuts to the rateable values of business properties in light of COVID could have a ‘catastrophic’ impact on council budgets, London finance chiefs have warned.

Finance chiefs said the lack of clarity from the Valuation Office Agency (VOA) will make it ‘exceptionally challenging, if not impossible’ for councils to submit their business rate forecasts, as they face a drop in their income.

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