The Insitute of Directors

It appears the IoD is headed up by a rather simple minded fellow, in yesterday's FT their D-G was quoted as saying:

"[Business] Rates are a cost levied on property values and have no correlation with a business' profits and hence its ability to pay"

Erm ... yes. But the rents or mortgage repayments that a business has to pay are also "levied on property values".

Further, as various attempts in this country to stimulate business by cutting business rates have shown, all that happens is that landlords put up the rent by the amount of the cut in business rates.

Which is why Site Value Rating is the least worst tax.