British manufacturers have said they will have to pay an extra £940m a year in business rates because of changes by Rachel Reeves that come into effect this month.
Manufacturers face a disproportionate business rates bill because they often have large factory floors, according to analysis by MakeUK, an industry lobby group. It said that factories accounted for a fifth of England and Wales’s property by rateable value, despite manufacturers only accounting for a 10th of economic output.
