Small shops penalised

FINANCIAL institutions are investing in large commercial developments and renting them to big business.

These tycoons can then avail of corporation tax relief and, in some cases, rates relief for a 10-year period.

In order to compete, smaller businesses have to extend and modernise their premises.

However, they are often unable to do this, fearing an increase in their valuations and further damage to their prospects of competing against larger businesses.

Where small businesses carry out improvements their rates should be frozen for 10 years and their premises not revalued for a further decade.

The present system discourages improvements to shops and it is very unfair to small business people.

Valuations Act 2001 should be amended to help them.

Cllr Noel Collins,

‘St Jude’s’,

Midleton,

Co Cork.