Budget Announcement Backfires: Small Businesses Face Tax Hikes, Despite Promised ReliefA recent budget announcement aimed at supporting small businesses has backfired, with many facing significant tax hikes instead. The changes to business rates, intended to help high street shops compete with online giants, have resulted in increased property tax bills for some. A department store, for instance, is seeing a forty-five percent rise in rates across its three locations. Business leaders have expressed shock and anger, with the new system putting more pressure on high street businesses and offering tax cuts to obscure properties like windmills and public telephone boxes. Around three thousand four hundred and eighty retail properties are expected to pay an extra one hundred and twelve million pounds in rates starting in April. Many business owners feel misled, with some on the brink of closure. Large chains are also bracing for significant financial hits. The situation has led to widespread frustration, with accusations that the government has caved to larger players, leaving smaller ones stranded.

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