London business groups warn Chancellor Healey against £1bn office business rates rise
Business and property bodies have warned Chancellor John Healey against a reported £1bn increase in business rates on expensive London offices ahead of his 28 October Budget. The Treasury declined to comment on speculation.
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The story, neutrally told
Mixed · 2Business and property groups have warned Chancellor John Healey not to raise about £1bn through higher business rates on expensive office buildings, ahead of his first Budget on 28 October. Evening StandardN “John Healey was warned by business chiefs against a £1 billion tax hike on London offices.” Read at Evening Standard ↗ City A.M.RC “John Healey’s potential £1bn raid on London offices would be an “attack on growth” and deal a huge blow to the City, property firms have warned.” Read at City A.M. ↗ Mixed · 2The proposal was first reported by The Telegraph: business rates would rise for commercial buildings with a rateable value above £500,000, raising about £1bn for the Treasury. Evening StandardN “Under the mooted proposal, business rates for commercial buildings with a rateable value of more than £500,000 would be increased.” Read at Evening Standard ↗ City A.M.RC “The plans being reviewed by the Chancellor would hike business rates for commercial buildings with a value higher than £500,000.” Read at City A.M. ↗ Mixed · 2The change would fall hardest on London, particularly the Square Mile and Canary Wharf, with about 9,000 properties in London and the South East affected, according to experts (City A.M. names the tax firm Ryan); the high street, hospitality and warehouses might be protected. Evening StandardN “However, around 9,000 properties in London and the South East could be affected, according to experts.” Read at Evening Standard ↗ City A.M.RC “The measure would affect some 9,000 properties in London and the South East, according to tax firm Ryan, with Canary Wharf and the Square Mile being heavily affected.” Read at City A.M. ↗
Centre · 1John Dickie, chief executive of BusinessLDN, said hiking taxes on large offices risked undermining the UK's ability to attract international investment, and urged the government to deliver its manifesto commitment to replace the business rates system instead of making piecemeal changes. Evening StandardN ““Rather than making piecemeal changes, the Government should deliver on its manifesto commitment to replace the business rates system in a way that encourages investment and drives growth.”” Read at Evening Standard ↗ Right · 1City A.M. also quoted Vanessa Hale of Real Estate UK, who called it an "attack on growth policy" that masks the failure to reform business rates properly, and Nikki Dibley, chair of the City Property Association, who warned of "less investment, fewer jobs and lower tax revenues for the whole country". City A.M.RC “This isn’t a good growth policy – it’s an attack on growth policy and simply masks the failure to get on and fully reform the business rates system properly.””““The result is likely to be less investment, fewer jobs and lower tax revenues for the whole country,” she said.” Read at City A.M. ↗ Right · 1A Treasury spokesperson said decisions on tax are a matter for the Chancellor at fiscal events, rather than routinely commenting on rumour, speculation or proposals. City A.M.RC ““As has always been the case, decisions on tax are a matter for the Chancellor to set out at fiscal events, rather than routinely commenting on rumour, speculation or proposals.”” Read at City A.M. ↗
Centre · 1The Evening Standard places the story in the context of a slowing economy: Healey, speaking at an IMF summit in Bangkok, said the Budget would be tough and that departments must "manage with the budgets we’ve got", while the IMF praised the UK's deficit management but warned war-driven inflation may worsen. Evening StandardN “Attending an International Monetary Fund summit in Bangkok, Thailand, the Chancellor insisted that the British people recognised the difficult nature of public finances”“but warned inflation fuelled by the war was likely to get worse before it gets better.” Read at Evening Standard ↗
Every sentence links to the reporting it rests on. The pill in front of each says where its sources sit: Left, Centre or Right when one side supplies at least half of them, Mixed when they are evenly split. The number is how many outlets it cites.
Left0 outlets
No left outlet in our sources has covered this story yet.
Centre1 outlet
- Framing
- Frames the story as a warning to the Chancellor from London business chiefs, set within a tough Budget and slowing economy.
- Emphasis
- BusinessLDN's quote, risk to international headquarters, the wider fiscal backdrop (IMF, NHS pay, Iran-war costs).
- Leaves out or plays down
- Does not include the Treasury's response or the property trade bodies' comments.
- Charged language
- “hammered”“raid”“hit City”
- For example
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“Talk of the “office tax” highlights how London could be in the Chancellor’s sights as he seeks to raise billions more for the Treasury rather than cutting spending.” — Evening Standard
Right2 outlets
- Framing
- Frames the plan as a "tax raid" and "attack on growth" threatening the City, relaying property industry alarm.
- Emphasis
- Multiple property-sector quotes, City fears about bank profits, and the Treasury's non-comment.
- Leaves out or plays down
- Omits the wider Budget and economic context, such as the IMF assessment and NHS funding dispute, that the Evening Standard reports.
- Charged language
- “raid”“attack on growth”“tax raid threat”“alarm bells”
- For example
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“The tax raid threat will raise alarm bells for the City, with bank bosses already fearing Healey could launch an assault on their profits.” — City A.M.
What every side reports
- The Telegraph reported Healey is considering higher business rates on commercial buildings with a rateable value above £500,000, raising about £1bn.
- About 9,000 properties in London and the South East could be affected, with Canary Wharf and the Square Mile hit hardest.
- John Dickie of BusinessLDN criticised the idea and called for business rates replacement instead.
- The Budget is due on 28 October.
John Healey person
Healey has not confirmed the proposal; the Treasury declined to comment on speculation. He has said the Budget will be tough and departments must manage within existing budgets.
“decisions on tax are a matter for the Chancellor to set out at fiscal events” — City A.M.
“expected Government departments to “manage with the budgets we’ve got”.” — Evening Standard
Left0 articles
No coverage yet.
Centre1 article
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London business chiefs warn Chancellor John Healey not to hit City with £1 billion 'office tax' rise
Mixed Reports business warnings on the office tax while placing it in a broader account of Budget pressures.
Right2 articles
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Healey’s £1bn London office raid would be ‘attack on growth’
Alarmist Presents the plan as a threat to the City and growth, led by property-industry condemnation.
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- 15 Oct 12:46 First Evening StandardN London business chiefs warn Chancellor John Healey not to hit City with £1 billion 'office tax' rise
- 15 Oct 14:59 +2h 13m City A.M.RC Healey’s £1bn London office raid would be ‘attack on growth’
- 15 Oct 16:19 +3h 32m Daily MailR Fix 'broken' business rates system once and for all, Chancellor told in letter from 200 bosses
Times are when each article was published, or when we first saw it if the outlet gave no time.
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