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British retailers call for business rates freeze

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The letter asks for a freeze in the business rates multiplier to stop another tax rise.

In a letter to the new finance minister Sajid Javid, published on Tuesday, the retailers called on the government to take action to"fix the broken business rates system".

It points out that the industry is the largest private sector employer in Britain, employing about three million people. While it accounts for 5% of the UK economy, it is burdened with 10% of all business taxes, and 25% of business rates. The letter comes a day after BRC-Springboard data showed 10.3% of shops in Britain were vacant, the highest rate in four years, adding to the growing gloom in the sector.

 

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British retailers call for business rates freezeMore than 50 British retailers have urged the government to freeze business rates to help out the struggling sector. matigary
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