Rates level is extended

Mutiny Festival brought over �2m to the local economy Picture: Paul Windsor

Mutiny Festival brings £2.7m into Portsmouth economy

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RATES based on market-high rents from 2008 will not be renegotiated until 2017, the government has announced.

The next scheduled revaluation planned for 2015 would have set business rates at 2013 rental values.

Portsmouth commercial property firm Holloway, Iliffe and Mitchell says the 2017 update will be calculated at 2015 values, forecast to be higher than 2013.