Backdated ports

Port businesses facing massive backdated business rates bills that threatened 150,000 jobs will now have their payments frozen this year as the Government redirects £50m of spending.

By The Newsroom

Published 24th May 2010, 22:31 BST

Hundreds of businesses were facing huge bills backdated to 2005 because of changes imposed by the Valuation Office Agency (VOA) which left some firms facing the threat of closure.

But Chief Secretary to the Treasury David Laws confirmed yesterday he was freezing bills for this year with a long-term solution by the end of March next year

Local Government Minister Bob Neill said: "Firms in ports are a vital part of our export and import trade, supporting Britain's manufacturing industry.

"We will be publishing more detail in due course, but today we are sending an important message to struggling firms who are staring into insolvency that help is on the way."

David Johnson, Financial Director of RMS and campaigner for the abolition of the backdated rates, said it was "great news" the Government was sympathetic to business.

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