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Business rate rise 'to hit BT bills' | Business rate rise 'to hit BT bills' |
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BT has condemned "excessive" new businesses rates which will mean bigger bills for consumers and firms. | |
The charges will come in from 1 April 2017 and will push up BT's annual rates bill fourfold, from £165m to £743m. | |
"We are extremely disappointed by the new rateable values which are clearly excessive," BT said. | |
On Friday, the Valuation Office Agency (VOA) published revaluation details of 1.96 million non-domestic properties in England and Wales. | |
But BT said: "It is highly likely that an increase of this size would lead to higher prices for consumers and businesses." | |
The telecoms giant warned that if the proposed new rates are brought in, "it could have a negative impact on future investment in the network". | |
That point was echoed by Virgin Media chief executive Tom Mockridge, who said: "The Chancellor Philip Hammond is choosing to side-step responsibility for a huge increase in infrastructure taxes, at the very moment after the Brexit vote the UK needs to maximise investment into its digital fibre network." | That point was echoed by Virgin Media chief executive Tom Mockridge, who said: "The Chancellor Philip Hammond is choosing to side-step responsibility for a huge increase in infrastructure taxes, at the very moment after the Brexit vote the UK needs to maximise investment into its digital fibre network." |
BT said it will challenge the VOA's "method and assumptions". | |
"The Government has made it clear that it wants companies such as BT to invest heavily in the UK. We have stepped up to that challenge but we need a more joined up and logical approach from the public sector if there is to be a more conducive environment for investment," the company said. |