Award winning writer Jeanette Winterson is calling time on her Spitalfields deli due to a sharp increase in business rates.
The rateable value of commercial properties is set to rise from £21,500 to £54,000 in April.
Business rates in London are expected to rise by 86% in central London.
However the change will help towns in the North of England, with rates in some cities dropping by almost 60%.
In an interview with The Guardian, Winterson commented that “it will make it incredibly difficult for any startup because even if you can rent a space, you’re still going to have to cover the business rate, which is going to cripple you. It’s a real downer on all entrepreneurship and innovation.”
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HeadlineWinterson’s Spitalfields deli to close down
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Standfirst
Award winning writer Jeanette Winterson is calling time on her Spitalfields deli due to a sharp increase in business rates.
The rateable value of commercial properties is set to rise from £21,500 to £54,000 in April.
Business rates in London are expected to rise by 86% in central London.
However the change will help towns in the North of England, with rates in some cities dropping by almost 60%.
In an interview with The Guardian, Winterson commented that “it will make it incredibly difficult for any startup because even if you can rent a space, you’re still going to have to cover the business rate, which is going to cripple you. It’s a real downer on all entrepreneurship and innovation.”
