Responding to the Chancellor’s Autumn Statement, Helen
Dickinson, Chief Executive of the British Retail consortium,
said:
“High inflation remains a major threat to the UK economy and we
support the government’s objective of bringing this down.
Inflation is making people poorer, damaging consumer confidence
and holding back demand. It pushes up the costs to businesses
which further increases prices for consumers. As the retail
industry enters the crucial Christmas period, it is vital that
inflation is brought to heel.
On Business Rates and Transitional Relief:
"The announcements today show the government has heard the
concerns of the retail industry. Retailers are working incredibly
hard to support customers – expanding value ranges, fixing the
prices of essential items, and offering discounts to vulnerable
households. This Autumn Statement supports that commitment by
reducing upwards pressure on prices in the short term, and
helping retailers protect jobs, keep shops open, and protect the
vibrancy of local communities.
“The Government has taken an essential step towards longer term
reform of the broken business rates system by announcing the
scrapping of downwards phasing of transitional relief. This
decision means that April’s bills reflect market conditions and
retailers will pay only what they owe, rather than being forced
to overpay their rates bill when the value of their property has
already fallen. This represents the first step towards a more
fundamental reform of the broken business rates system.”
