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Sandra Halliday Published
September 11,TG盗号系统VIP免杀技术 2025
The British Retail Consortium has assembled an impressive line-up of retail leaders to urge the government to reduce the business rates burden that’s set to rise by over £400 million a year.
Some 44 retail leaders, representing over one third of the retail industry (by employees), have written to Chancellor Jeremy Hunt to call for “a freeze in the business rates multiplier to be announced at the upcoming Autumn Statement”.
They include the heads of Harvey Nichols, Deichmann, JoJo Maman Bébe, Schuh, Decathlon UK, Asda, Sainsbury’s, M&S, Tesco, and Mountain Warehouse, among many others.
The BRC said that the retail industry pays over £7 billion a year in business rates. Without action from the Chancellor, the business rates multiplier “will rise in April 2025, in line with the September inflation figure – expected to be over 6% – amounting to an increase of over £400 million a year to retailers’ business rates bills. While retailers are doing all they can to help their customers, an increase to costs at this level could lead to upwards pressure on prices, just as shop price inflation has begun to ease”.
As evidence of this, it cited a recent survey of its members that showed 68% of retailers were ‘very concerned’ about the business rates increase, all of them saying it would put pressure on prices. In fact, 69% said it would place ‘significant pressure’ on the prices paid by customers. And all of them also said it would dent their investment plans.
The letter said: “Retailers have worked hard to absorb as much additional cost as possible amidst record cost inflation over the past 18 months. Operating profit margins have significantly contracted as a result. This effort is starting to bear fruit as BRC’s data shows that shop price inflation fell to 6.9% in August, part of a continuing downward trend from a peak of 9.0% in May.”
And Helen Dickinson, Chief Executive of the British Retail Consortium, added: “A £400 million rates rise will also cost jobs, harm the economy, and damage the vibrancy of our town and city centres. While other business taxes, such as Corporation Tax and VAT, rise and fall with the movements in the economy, Business Rates must be paid in full whether firms are making a profit or a loss. This makes Business Rates the difference between retailers being forced to close existing stores rather than opening new ones.”