Back
News

Reform broken business rates in exchange for billions back

Retailers are demanding a reform of the broken business rates system after supermarkets voluntarily repaid almost £2bn.

Tesco chief executive Ken Murphy said the current system is “a massive penalisation of the retail sector”, adding that his company’s rates bill had risen by 80% in the last decade.

The government has promised to overhaul the system, but reforms have been put on hold. Proposals are currently with the Treasury.

The Times (£)

Up next…