Business rates: 'Firms want transparent, fair system'

The current system of business rates is in need of "fundamental reforms" in order to help retailers and boost local economies, according to a report from the Business, Innovation and Skills Committee.

Mark Rigby from CVS, which helps firms reduce their rates, told BBC Breakfast that rates had risen by almost 16% in the past four years, while the economy had not performed as strongly.

"The problem with the current system is that it is an assessed tax and businesses find it difficult to understand the basis upon which that bill has been calculated."

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