Retail chiefs said a rise would ‘threaten the viability of many shops and hinder the industry’s capacity to invest’
The letter, co-ordinated by the British Retail Consortium , said a rise would “threaten the viability of many shops and hinder the industry’s capacity to invest”.Business rates are planned to increase in April in line with the inflation figure for September.It highlighted that an increase at that level would also put more pressure on pricing in stores, as the Chancellor and Prime Minister seek to meet their pledge of halving inflation this year.
An inflation-linked rise to business rates would have been due to take place in April this year but was frozen by the Government.