Responding to the Transforming Business Rates:
Interim Report, Helen Dickinson, Chief Executive at the
British Retail Consortium, said:
“The business rates system is outdated, overly complex and
economically damaging. This report offers a useful blueprint of
various areas to be explored further that could help the business
rates system function more effectively. Retailers will appreciate
the Government considering how Improvement Relief can be
enhanced, as well as considering how the functions of the VOA can
be delivered effectively by HMRC.
“But for retail businesses, the most pressing question is the how
government's plan for a permanent business rates reduction for
retail, hospitality and leisure (RHL) premises will be
implemented. Currently, retailers account for 5% of the economy
yet pay over 20% of the total business rates bill, which is why
such reforms are desperately needed. Until we get clarity on
these changes, which isn't expected until the Budget, many local
investments in jobs and stores are being held back.”
-ENDS-
At 8.45am this morning an embargoed press release entitled: “400
of Britain's largest shops at risk” will be sent by the BRC. That
release is embargoed until midnight tonight and provides
additional information on our business rates asks. It does not
relate to the Interim Business Rates Report, but to the wider
changes expected at the Budget (and mentioned in the quote
above).
