BUSINESSES face a price hike of more than £600 next year which could put people’s livelihoods at risk and see prices of goods shoot up.

The average business rates bill in England will increase by a around £430 in 2014/15, meaning a business rate hit of around £12,600. Swindon is set to be hit harder with an increase rate of around £660 which Anne Snelgrove, Labour’s parliamentary candidate for South Swindon, said is not sustainable for many small businesses in and around Swindon.

Tina Cozens, owner of Some-thing Old Something New, in Victoria Road, said the increase in bills would put a strain on her family-run business.

“It will make things more difficult,” said Tina, whose shop sells a selection of homeware and antique furniture.

“It will be a big worry. I try and make my prices as competitive as possible but with increased charges, the money will have to come from somewhere.”

She said her shop has been open for five months so at the moment she is exempt from rates but next year, when the spike in charges is introduced, she could struggle to pay the extra bills.

Ed Miliband has pledged to tackle the problem by cutting business rates on properties with an annual rental value of less than £50,000 in 2015, back to the level of the previous year, in addition to freezing business rates for those properties at that level in 2016.

Labour have said the tax cut would be paid for by reversing the Coalition’s cut in the main rate of corporation tax from 21 per cent to 20 per cent. The measure will be a centrepiece of the first Labour Budget so that small businesses get a refund on their 2015 rates if Labour wins the election.

Mrs Snelgrove said the increase will put high streets and local economies at risk.

“Here in Swindon the town centre shows signs of recovery and independent shops in Old Town are making a comeback after struggling for several years – Labour’s business rates freeze and cut is just the sort of lifeblood that they need,” said Mrs Snelgrove.

Speaking about the policy, Ed Miliband, leader of the Labour Party said: “Small businesses are the lifeblood of communities’ right across the country.

“Business rates keep going up and up. They are due to increase on average £430 this year.

“But David Cameron’s Govern-ment stands up for big business and ignores the needs of small business.”