A group of hospitality, retail and leisure trade bodies have made a last-ditch plea for Jeremy Hunt to freeze business rates in next week’s Autumn Statement.
The British Retail Consortium, UKHospitality, Association of Convenience Stores, British Independent Retail Association, and UKActive said an inflationary increase in the business rates multiplier and removal of relief would be “disastrous” for their sectors.
In a letter to the chancellor, they said it would result in “business failures, job losses and boarded-up properties in our high streets”.
Business rates are due to increase again in April, under a multiplier linked to September’s rate of inflation. Alongside this, freezes on rates and discounts are due to come to an end. Retailers are expecting a hike of £480m a year in their collective rates bill.
