{"id":51373,"date":"2020-02-13T10:00:54","date_gmt":"2020-02-13T10:00:54","guid":{"rendered":"https:\/\/www.watchpro.com\/?p=51373"},"modified":"2020-04-20T16:43:22","modified_gmt":"2020-04-20T15:43:22","slug":"retail-giants-urge-chancellor-to-reform-rates-or-see-high-streets-wither-and-die","status":"publish","type":"post","link":"https:\/\/www.watchpro.com\/retail-giants-urge-chancellor-to-reform-rates-or-see-high-streets-wither-and-die\/","title":{"rendered":"Retail giants urge Chancellor to reform rates or see high streets wither and die"},"content":{"rendered":"
More than 50 major high street retail groups have written to the Chancellor of the Exchequer Sajid Javed demanding reform to the business rate system that they say puts unfair burden on businesses outside the wealthy southeast of the country.<\/strong><\/p>\n The letter<\/a><\/strong><\/span> was coordinated by the British Retail Consortium, whose chief executive Helen Dickinson OBE says the current rates system is killing the high street.<\/p>\n \u201cThe future of retail is an issue that matters to people everywhere \u2014 it employs three million people and serves the needs of the entire country. Yet transitional relief undermines both the industry as a whole, and many regions that it serves. Northern high streets effectively subsidise London banks, forcing a \u00a3600m transfer of wealth to the capital; this could be used to support investment in people and technology that would benefit all parts of the UK.<\/p>\n \u201cEvery year retail faces higher and higher business rates bills, holding back much needed investment in an industry that is transforming at a dramatic pace. Swift action at the upcoming Budget would show the Chancellor was serious about levelling up all parts of the UK and supporting a retail industry towards realising a brighter future,” she says.<\/p>\n