Market rent rises go ahead despite petition

Councillors today voted to keep rent increases at a popular market, despite a 180-signature petition against the move.

Representatives of Bilston Market said they were 'extremely disappointed' by the decision to keep the increase introduced in April which will lead to a five per cent hike in the next five years.

Wolverhampton City Council, which needs to save £123million over the next five years, says the rise will generate £35,000.

But some traders are already boycotting the increase and representatives of the market's traders forum say they will now consider fighting today's decision through an arbitrator.

Jag Sandhu, who runs Sedgemoor Textiles at the market, said traders were already struggling and the increase could force some to close.

He said: "For every business there is a ceiling. Once you hit that ceiling it is a downhill spiral."

He added: "The council are jeopardising the jewel in Bilston's crown.

"Bilston Market brings in a massive return profit and they will let it be known once Bilston Market starts to decline where the rot started."

The five per cent increase will be phased in over the next five years, rather than all at once.

Councillor John Reynolds, cabinet member for city services, said it equated to an average annual increase of around two per cent.

He added: "Bearing in mind when we looked at this the inflation rate was about 3.5 per cent, we think this is a reasonable increase this year.

"I understand the traders' position," he added. "I certainly understand why they are concerned.

"But I believe in the present climate the increase that we are putting on the rent is reasonable."

The council's petitions committee, which made the decision to keep the increase, also said a protocol needed to be set up to allow the traders to better consult with the council in future.