Despite Whitehall claims to the contrary, IPD data shows Westminster shops are the big winners from the government’s business rates revaluation delay
As the Christmas lights were turned on in Regent Street last week, new data from the IPD shows that it is shops in central London that have been the big winners from the government’s two-year business rates revaluation delay.
High street minister Brandon Lewis once again ruled out a reversal of the delay while giving evidence to the business, innovation and skills select committee last month, claiming it has helped struggling retailers across the country.
But IPD data shows shops in the Midlands, North, Scotland and Wales are the biggest losers from the delay.
As things stand, it is London shops that have done best out of the government’s decision, with Westminster’s 5,830 shops estimated by Gerald Eve head of rating Jerry Schurder to be £130m pa better off.
nadia.elghamry@estatesgazette.com
