THE RETAIL BULLETIN - The home of retail news
HOME
RETAIL NEWS
RETAIL EVENTS
Fashion
Department Stores
Shopping Centres & Retail Parks
Home & DIY
Electricals
Health & Beauty
General Merchandise
Entertainment
Sports & Leisure
Retail Solutions
Food & Drink
RETAIL INSIGHTS
RETAIL SOLUTIONS
ABOUT US
CONTACT US
SUBSCRIBE FOR FREE
Chancellor urged to hold back business rates as well as council tax

The BRC welcomes today's announcement but says the Government must also limit next year's business rates bills.

GENERAL MERCHANDISE

Chancellor urged to hold back business rates as well as council tax

The Council Tax freeze announced today (Monday) by Chancellor George Osborne is welcome news for retailers because it will keep money in customers' pockets. But if this really is to be "The most pro-growth Government in history" it must also limit next year's business rates bills.
Under current rules, this September's RPI inflation figure will determine next April's Business Rates rise in England. That could easily top five per cent even though the BRC's most recent figures show the volume of sales and retail employment actually falling.

Stephen Robertson, British Retail Consortium Director General, said: "The Council Tax freeze will make a useful contribution to easing the pressure on household budgets, leaving customers' with more money to spend on the things they need and want.
"But if the Government really believes in generating growth, it will limit the burden for businesses too. Under the current rules, businesses are likely to be hit be a destructive five per cent increase in business rates next April on top of a similar increase imposed this year.

"These extra costs can only undermine retailers' ability to invest and create jobs. The Government should abandon the rates-roulette of basing each year's Rates increase on the previous September's RPI. We need a system that produces Business Rates changes that are more certain and, above all, more affordable."

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

Retail Human Resources Summit
Retail Human Resources Summit
Wednesday 3 October 2018
The Cavendish Conference Centre, London W1
The 10th HR Summit 2018, The Cavendish Conference Centre, London W1, 3rd October 2018
The Retail Design Summit 2018
The Retail Design Summit 2018
14 November 2018
The Cavendish Conference Centre
The Retail Design Summit 2018
Omnichannel Futures Conference 2019
Omnichannel Futures Conference 2019
6 February 2019
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy
Customer Engagement Conference 2019
Customer Engagement Conference 2019
5 June 2019
Cavendish Conference Centre, London W1
The 10th Annual Retail Customer Engagement Summit
National Minimum Wage Breakfast Briefing
National Minimum Wage Breakfast Briefing
20 September 2018
6th Floor 1, St. Martin's Le Grand London, EC1A 4AS
National Minimum Wage Breakfast Briefing