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The Queensland Minister for Energy and Water Supply then determined that the carbon-exclusive retail prices would apply in 2014–15.These prices will be backdated so that they apply from 1 July 2014.Meeting with Nick Ridehalgh, ABP Port Director Short Sea Ports; Alastair Mac Farlane, ABP Port Manager East Anglia; and David Rumsey, Finance Director Clarkson Port Services, Mr Neill discussed the implications of the Act, saying: “For too long this unfair backdated port tax took its toll on the ports industry, with unexpected million pound bills damaging the businesses at the foundation of this country’s import and export infrastructure.“The Government took swift action to reverse these effects – our freeze on paying the backdated tax helped prevent job losses and let companies plan for the future.And from 31st March, affected businesses in ports and across England can, at last, breathe a sigh of relief as our action to waive their bills is completed.“Now the looming threat of the unfair backdated port tax is finally behind us, I’m confident that the industry can move forward with putting that money to its rightful use – to build up their businesses, retain jobs and benefit from international trade.”Mr Ridehalgh explained that the move has been welcomed by ABP and its customers, and thanked Mr Neill for his efforts: “We were delighted to welcome the Minister to the Port of Ipswich for a second visit.The Bloomberg Terminal puts the industry’s most powerful suite of global, multi-asset portfolio and risk analysis tools at your fingertips.

On Monday, 5 March Parliamentary Under Secretary of State for Communities and Local Government, Bob Neill MP, visited Associated British Ports’ (ABP) Port of Ipswich to promote the introduction of the Localism Act, which provides the statutory instrument to enable the write-off of backdated rates for port-based businesses.As a matter of English law, there are essentially four elements to rateable occupation, all of which need to be established before a party will be held to be in rateable occupation: The first point (actual occupation) essentially relates to whether or not the hereditament is used or unused and therefore will not normally be an issue.However, businesses should bear in mind that they may not be liable for business rates in respect of any part of the hereditament which is left empty and they may be entitled to a rebate in respect of those parts.None of the businesses could have foreseen what was coming, so had no chance to pass on the extra costs to their customers. Which may explain why it has been inundated with hundreds of appeals from the freshly-rated new companies, outraged at the size of their bills. His two small businesses in the Port of Goole on the Humber have received a backdated bill of just under £1m and an ongoing liability of £350,000 a year – somewhat hefty for businesses with a joint annual turnover of just £2.5m.Over at Birkenhead, his Mersey business is getting a retrospective bill of around £2m and an ongoing liability of £500,000 a year. The situation has been repeated up and down the country, with port companies being advised by accountants that putting such liabilities through the books would leave them technically insolvent.The Bloomberg Barclays Indices The Bloomberg Barclays Indices are available in the Portfolio & Risk Analytics platform, which combines world-class fixed income benchmarks with advanced performance analysis, risk forecasting and portfolio construction tools.