Skip Ribbon Commands
Skip to main content

News Release

London

JLL’s Head of Rating comments on latest RPI inflation figures

Tim Beattie, Head of JLL Rating, UK comments on the latest Retail Price Index (RPI) figures


​London, 14th October, 2014 - Commenting on the latest Retail Price Index (RPI) figures, Tim Beattie, Head of JLL Rating, UK said: “The latest announcement that RPI inflation for the year to September 2014 was 2.3%, its lowest level since November 2009 is important for businesses as this figure drives the small and large business rate multiplier for 2015-16. Businesses will be hoping that the Chancellor will again use the legislative powers at his disposal to reject the RPI figures and instead use the lower 1.2% Consumer Price Index (CPI) measure to peg the rate multiplier, preventing a heavier business rate bill and burden. 

“However what businesses really want is a commitment from the government for a much wider reform of the Business Rate system and the government’s detailed response to the two consultations it undertook last year is eagerly awaited. I believe that this is an important opportunity to implement a fairer system to include more frequent revaluations combined with a fixed tax rate or multiplier so that the tax yield varies with the prevailing economic conditions along with a return to the pre-2008 empty rate regime.”