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Chancellor of the Exchequer George Osborne hits the high street to meet traders in Stanmore
Chancellor of the Exchequer George Osborne visited high street traders today to discuss government help with business rates.
The visit comes following last week’s Autumn Statement in which the Chancellor announced a cap on the increase of business rates at two per cent instead of 3.2 per cent.
It was also announced high street traders will be able to have their business rates bill cut by £1,000, a move intended to help small businesses.
Mr Osborne visited shops in The Broardway, Stanmore, before sitting with traders and business owners for a brief question and answer session.
He said: “These are some of the hardest working people in the country and the Government has to help them.
“I am very impressed with the traders of Stanmore and the work they are doing to try and increase business.
“As a government we have to do what we can to help small businesses, especially at a time when money is tight and that is why we have introduced £1,000 business rates cut to help the high street.”
The Chancellor also visited of The Balloon and Party Shop, run by Raj Degamia, who is also chairman of the newly formed Stanmore Chamber of Trade.
Mr Degamia said: “I think all the traders are very proud to have had the chancellor come to visit. Sometimes Stanmore is overlooked and it was great to be able to talk to him about issues we are facing.
“The announcement on business rates last week is welcomed but there is more that still needs to be done to help.
“I would like to see more long term help for the high street and a review of the business rate system as a whole because they can be very high.”
When asked if the measures in the Autumn Statement were short term, Mr Osborne said: “These measures will help for the next few years before there is a review of business rates and how they are calculated in 2017.”
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