Viewpoint: We must help hard working businesses facing rent increase
PUBLISHED: 08:00 11 August 2018
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I’m deeply concerned about the corporate rent rises the government have imposed on local businesses that occupy the Network Rail arches.
The Network Rail estate, which includes over 5,500 commercial premises are due to be sold off later this year to a private investor. Hundreds of businesses occupying the arches have experienced sky-rocketing rents ahead of the sale, with some businesses facing rent increases of up to 350 per cent.
It’s appalling to see so many hard-working businesses in Tower Hamlets struggling with extortionate rent rises, which are forcing them to relocate or close.
Small businesses are the backbone of our local economy, the cornerstones of our communities and should be supported by the Government, rather than being forced out of business due to rising costs. With Mayor Biggs, I will be campaigning for Network Rail to think again and ensure the sale of its commercial premises do not damage small businesses who contribute to our economy.