Backdated rates no aid to port development
Potential investors in port-centric projects could be deterred by huge bills
The UK government’s decision to charge business rates backdated to 2005 to port-based businesses is one of the major hurdles facing port-centric operations, according to infrastructure investor BNP Paribas.
BNP Paribas’ supply chain consultant Lisa Fitch said: “It’s things like the business rates issue or the length of time it takes to get planning permission that investors will look at when deciding whether they want to risk their money.
“Investors wanting to develop property for port-centric logistics need property to be attractive to occupiers.
“It’s not going to be an attractive investment if you build warehouses and they sit empty because occupiers are put off by backdated business rates.
David Pendleton of Mersey Maritime, which is campaigning against the backdated business rates, added: “The business rates issue has affected investment.
“Certain foreign investors are up in arms about the way they have been treated and haven’t brought further investment to the country because they don’t trust the government to not do this again – not just on port property but also on industrial estates.”
BNP Paribas’ supply chain consultant Lisa Fitch said: “It’s things like the business rates issue or the length of time it takes to get planning permission that investors will look at when deciding whether they want to risk their money.
“Investors wanting to develop property for port-centric logistics need property to be attractive to occupiers.
“It’s not going to be an attractive investment if you build warehouses and they sit empty because occupiers are put off by backdated business rates.
David Pendleton of Mersey Maritime, which is campaigning against the backdated business rates, added: “The business rates issue has affected investment.
“Certain foreign investors are up in arms about the way they have been treated and haven’t brought further investment to the country because they don’t trust the government to not do this again – not just on port property but also on industrial estates.”
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