EZ rates 'shock'
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CONSERVATIVE MP Eldon Griffiths told the National Association of Warehouse Keepers this week that he was appalled to learn that 26 per cent of their costs or £5,000 per employee, were attributable to rates.
He said that the Government's Green Paper should not only deal with relief on domestic rates, but also with industrial and commercial rates.
Mr Griffiths was replying to a speech made by NAWK chairman Ralph Richards who had said that enterprise zones encouraged new ventures, but led to unfair competition and the possible closure of established operators.
Mr Richards said that warehouses on established areas like London's Isle of Dogs which is an EZ also banned heavy lorries and would encourage an increase in light vehicle traffic.
He said that NAWK had waited anxiously for the Wood Inquiry to report and regretted the current uncertainty. He called on the Government to curtail the increase in warehouse rates, and Mr Griffiths said he would convey these feelings to the Government.
BIRMINGHAM-based Hanger Investments recorded a rise of £8.5m turnover to a record £88.3m last year, but was hit by the recession in the West Midlands. In particular, "heavy losses" were incurred at Hanger Trucks.