Coventry & Warwickshire

Warwick firm 'disappointed' over Budget

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Media captionSpeaking ahead of the Budget, managing director Jim Bell said moving to new, bigger premises was "quite a big risk"

A Warwickshire firm says it is disappointed not to receive a rate reduction in the Budget.

Access Engineering Supplies has expanded and moved to a bigger unit on the Heathcote industrial estate in Warwick.

Managing director Jim Bell had called on Chancellor George Osborne to reduce business rates ahead of the Budget, following an increase in the company's rates from zero to £9,000 a year as a result of its expansion.

Responding to Wednesday's announcements, Mr Bell said: "I'm disappointed we didn't get a rate reduction.

"It's a big cost, especially when you move and it would have helped small businesses."

Asked if it was a budget for business, the managing director said: "I don't think he [the chancellor] had much room to manoeuvre to be honest, but he's given us what he can."

Speaking before the Budget, Mr Bell said Mr Osborne must reduce overheads if he wanted small firms to grow.

The managing director had said: "If he wants small businesses to expand I think he should look at rate reduction. It really helps smaller businesses grow, move into bigger premises and employ more people."

He said that although business has been "picking up", moving to new premises that are eight times as large as their old base was "quite a big risk".

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