Responding to Shadow Chancellor Mel Stride’s speech at Conservative Conference, Helen Dickinson, Chief Executive at the British Retail Consortium, said:
It is good to see the Shadow Chancellor recognise the challenge that the current business rates system poses to high streets across the country. Retail is 5% of the economy, yet pays over 20% of all business rates. The current system is not fit for purpose and retailers support any measures which will help bring their business rates burden down and enable them to invest more in local high streets.
In the meantime, we hope the Shadow Chancellor will add his name to those calling to ensure no shop pays more in rates as a result of business rates changes expected at the November Budget. If the new rates surtax on large commercial premises includes shops, then it will be households who pay the price through higher prices for food and other essentials and less investment in local shops and jobs.
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