UK manufacturers face £940 million increase in business rates this month

UK manufacturers will pay an additional £940 million annually in business rates due to changes by Rachel Reeves effective this month. MakeUK reported that factories represent a fifth of property rateable value yet only account for a tenth of economic output. The lobby group called for a review of the business rates system, emphasizing its disproportionate impact on manufacturers.

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Summary by Glance · Original reporting by The Guardian Australia – Business