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
Retailers welcome news of potential 2% cap on business rates

Reports suggesting that the Chancellor may announce in his Autumn Statment today that business rate rises will be limited to 2% in England and Wales next year have been welcomed by retailers.

GENERAL MERCHANDISE

Retailers welcome news of potential 2% cap on business rates

If the cap is introduced, it will be instead of the 3.2% rise that was due if no cap was put in place.

The British Retail Consortium has welcomed the news as a “good first step” towards full reform of the business rates in the future.

BRC director general Helen Dickinson said: "The BRC has been campaigning for a cap on business rates of 2% followed by reform of the system. If the reports this morning are correct and the autumn statement does include this cap it will be welcomed enthusiastically by retailers across the country. It could save 7,500 jobs next year, boost local communities and allow more shops to stay open on our high streets.”

Dickinson said that reform was still needed in the the longer term, adding: “The business rates system is not fit for purpose and has become the highest business property tax in Europe.”

The BRC is currently leading an examination of options for improving the business rates system, supported by a broad group of industry stakeholders.

 

 

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