Retailers welcome indications of a cap on business rates rises

Responding to the report in today’s Sunday Times that the Chancellor is set to cap the expected 3.9 per cent increase in business rates next Spring, Tom Ironside, Business & Regulation Policy Director at the BRC, said:

“If this report is true it would be a step forward. Without decisive action from the Chancellor in his upcoming Budget then retailers face a stark £270 million leap in their rates bill from April. This would have consequences for retailers’ investment plans, especially for investment in new or refurbished stores in town centres and in less economically viable locations.”

Read the BRC’s Budget submission: Helping Shoppers Budget

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