THE Government's announcement that business rates will be reviewed through a revaluation of every business property for 2017 is five years too late, according to the Worcester accountants which have demanded a "root & branch" reform of business rates.

Matthew Lee, managing partner at Bishop Fleming, which has an office in College Yard, said: "This announcement is a cynical sop towards the overwhelming need for a total rethink of this iniquitous tax. The Government cancelled the scheduled revaluation that would have reduced the business rates burden for most businesses outside central London. That means that, until 2017, every business will continue to pay ever-increasing business rates based on the peak of property values in 2008. That decision has impaired every UK business from helping to drive the much needed economic recovery."

Mr Lee is now calling on all political parties to include a promise to reform business rates in their manifestos for next May's General Election.

He added: "Right now, business rates are an unfair burden on UK businesses, that are paying more than any EU competitor. What's worse, this is the only tax that is guaranteed to rise by being uniquely linked to inflation, irrespective of how a business is performing."