Retailers have called on the Chancellor to hold off a potential hike to business rates in line with inflation
The letter, which has been co-ordinated by the British Retail Consortium, said a rise would be “threatening the viability of many shops and hindering the industry’s capacity to invest”. The BRC said this would amount to an increase of more than £400m a year to retailers’ business rates bills. “Against this backdrop, the Government should not make the situation worse by adding significantly to our cost base – freezing the business rates multiplier at its current level would avoid this.”
“With shop price inflation having eased for three consecutive months, it is vital that the Government does not add to the cost burden and undermine this progress.