FEARS are growing that huge increases in business rates will put businesses in Witney under threat.

Several traders in the centre of town have said the proposed rise in their rateable values, many of which are above 50 per cent, could eventually strip the high street of its independent stores.

The Government is reviewing all rates so they match rent rates but in places like West Oxfordshire the hit is particular hard.

Business rates are based on a property's valuable rate which have not been reassessed for the past seven years.

Witney MP Robert Courts has said he is doing ‘everything possible’ to ensure the impact of the revaluation is not unfairly shouldered by small businesses when it comes into effect in April.

Rosa and Jim Ashby have jointly run Rosa Flowers, a florist in Wesley Walk, for nearly 20 years.

They face an increase in rateable value of 57 per cent, which will see the rate they pay each year shoot more than £1,000 extra a year to more than £7,600.

Mrs Ashby said: “I don’t know what’s going to happen to Witney. It’s tragic.

“This is our livelihoods. If a small business shuts down that’s a livelihood that has been worked for over many years.

“A lot of businesses have already closed and been replaced by nationals. Individuality is going from Witney. It’s losing its uniqueness.”

This latest revaluation of business rates is designed to bring them in to line with changes in the rental property market and comes after independent evaluation by the Valuation Office Agency.

Jeanne Chattoe has run the Renaissance vintage clothing store, also in Wesley Walk, for 15 years.

Like Mr and Mrs Ashby, she is facing an increase of 57 per cent in her rateable value, changing the amount she pays annually from £3,812.45 to £5,442.00. She said the rise could easily put her out of business.

Ms Chattoe added: “If I need to find nearly £200 a month I can’t get it out of thin air and I can’t put my prices up because I have to compete with online.

“We’re losing the character of the town. I know that things have to change but change should be in a sympathetic manner to Witney."

However, the impact on larger businesses is no-where near as large.

Both Ms Chattoe and Mrs Ashby pointed out that the rise in rateable value for Waitrose, in Witney, is 4.5 per cent.

MP for Witney Mr Courts said he has received lots of correspondence regarding the revaluation of business rates.

He added: "The effect upon the small, high street businesses that make up the lifeblood of West Oxfordshire is, in some cases, significant.

"There has been plenty of coverage in the national media about the actions of my colleagues and I, who have regularly met with ministers to lobby for the interests of our small businesses.

"One of my top priorities is ensuring that West Oxfordshire businesses continue to thrive, and that the UK has a climate which encourages individuals to set up their own business.”

A spokesman for the Government's department of communities and local government said: "The government has introduced a £6.7 billion package of measures providing support for all ratepayers.

“The revaluation is designed to bring rates in to line with changes in the rental property market and ensures business rate bills more closely reflect the property market and that all businesses are getting a fair deal.”