London First comment on Crossrail business rate levy

29 January 2010

Leading Business Organisation, London First responded to the Mayor's concession of a increased threshold applying to the supplementary business rate, which he will levy from April, as a contribution towards the construction of much needed rail project, Crossrail.

London First chief executive, Baroness Jo Valentine said

"We have pressed for Boris to reduce the pain for businesses from the unfortunate timing of the introduction of the Crossrail rate supplement. This small concession shows he has listened. It's not as much as we would have liked – we would have preferred a small concession for all contributors - but it does demonstrate that Boris is sympathetic to our concerns.

"Business will contribute over £4bn to the Crossrail budget but, in return, it must be built to the agreed specification, to time and to budget. Crossrail can't be finished a moment too soon for London's long-suffering commuters."

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