Property rate relief covers signs and ATMs

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Alistair Darling claimed in the Pre-Budget Report that the decision to exempt landlords from paying the controversial levy on buildings with a rental value smaller than £15,000 would cover 70% of properties. But it has now emerged this includes cash machines and advertising hoardings.

Liz Peace, chief executive of the British Property Federation, said: "Rate relief for signs and ATMs will be of little solace to struggling businesses. You can't set up an office on an advertising hoarding after all.

"This is spin to help Labour keep votes, rather than help businesses. It will do nothing to avert demolitions, nothing to save jobs and nothing to encourage the investment we need to come through recession. Only the smallest properties will be saved in a cynical and short-term response to a long-term burden on business."

Since April businesses have had to pay tax on buildings empty for more than three months after the Government scrapped the 50% relief enjoyed by offices and retailers and the 100% industrial property relief.

It was labelled the "bombsite Britain" tax as landlords demolished buildings rather than pay rates.