Business Groups And Some Tory Mps Have Warned Of High Street Store Closures And Are Urging Mr Hammond To Use Next Month's Budget To Mitigate The Impact.

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Ministers are under pressure with MPs warning the changes will lead to "eye-watering" bill rises for some firms. Questions have also been raised over calculations used by the government to defend the reforms. But the government said this was "scaremongering" and said it was making business rates "fairer". Rates are being updated for the first time in seven years, to bring them into line with property values. Business groups and some Tory MPs have warned of high street store closures and are urging Mr Hammond to use next month's Budget to mitigate the impact. At an 80-minute meeting of the Tory backbench 1922 Committee in Westminster on Monday evening, a series of MPs confronted the chancellor with examples of businesses in their constituencies facing steep tax rises. Business rates 'need fundamental reform' The changes come into force on 1 April as a result of a revaluation of premises flights to chicago from nyc carried out by the government, which says three quarters of businesses' rates will either go down or stay the same. In an email to MPs, ministers Sajid Javid and David Gauke included a list of constituency-by-constituency figures showing how the average business in each seat would be affected. It revealed many of the areas facing rate rises are in Tory heartlands, with the Home Counties facing some of the biggest increases. Speaking on BBC Radio 4's Today programme, Conservative Andrew Bridgen disputed the ministers' forecast of a reduction across his North West Leicestershire constituency.

The Brexit bulls will have been delighted by what they heard on Channel 4 News last night. Canadian envoy Janice Charette said her country and the U.K. should be able to seal a speedy trade deal after Brexit. Bearish Business May might want to skip the business pages today, after a technology giant, a home furnishing retailer and an equipment manufacturer all warned of repercussions from the Brexit vote. Microsoft again hiked the price of some of its products following sterlings decline. The companys Surface Book laptop now costs 1,450, a 12 percent increase from its launch price a year ago. Meantime, Schneider Electric , the worlds biggest maker of low- and medium-voltage equipment, said its preparing to cut jobs in the U.K. It warned the outlook for construction and infrastructure markets is growing increasingly uncertain. Such markets are becoming more tense, Chief Financial Officer Emmanuel Babeau said in an interview . Schneider Electric's CEO Sees Business Growing in 2017 Laura Ashley, the furniture and clothing chain known for its flowery designs, also predicted a tough year ahead amid the pounds slide and dwindling consumer confidence.

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