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RMI says small business rate relief plan ‘good news’

Government plans to introduce business rate relief for small businesses in the retail motor sector will boost inward investment according to the Retail Motor Industry Federation.

The move, intended to ease the rate burden on small businesses, was revealed by local government minister Nick Raynsford earlier this week.

Under the suggested scheme, rate relief will be available at 50% for business properties with a rateable value of £5,000.

The relief will then decline on a sliding scale as rateable value increases, reaching no relief at a rateable value of £10,000.

Petrol retailers, MOT stations, and the smaller independent garages are the businesses in the sector most likely to benefit from the plan.

Matthew Carrington, RMI chief executive, says: “This scheme will enable the smallest businesses in the retail motor sector to re-invest their money directly back into their companies, thereby creating more jobs, and further extending the sector's ability to serve its customers.”

Carrington adds: “If the scheme is a success, perhaps it could be extended to larger businesses.”

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