TAVISTOCK’s Pannier Market traders should be asked to stump up more money for their pitches, town councillors have recommended.

They will be asked to pay an extra £1 on top of the current £9 charge, plus an increase of £40 per month for more permanent ‘lock-up’ units, if a recommendation by budget and policy committee members is passed by full council.

Town council clerk Carl Hearn said in a report to committee members that although a range of other fees and charges have increased by in the order of three per cent the market tolls have not increased for several years. He said over that time the retail price index — the measure of inflation — had increased by over 22 per cent and, with the effect of compounding and increasing inflation rates, was likely to exceed 25 per cent by the beginning of the new financial year.

Mr Hearn said the increase had been discussed with traders and lock ups were on two year leases and the increased rate would only come into force as each lease was due.

He said that now that major renovations or repair works at the market had finished, fees and tolls would again be subject to annual review in the normal way.

Mr Hearn added there was also uncertainty over how markets would be taxed in the future, while a further Covid-19 lockdown could mean a loss of income.