Representing many cookshops and housewares retailers with a high street presence, Bira (The British Independent Retailers’ Association) is putting pressure on the government to announce a permanent reduction of business rates in the chancellor’s Autumn Statement. The association is encouraging independent retailers to write to their MPs stressing the immediate need for business rates reform.
However, according to a report in the Daily Telegraph this week, business rate reforms will be delayed by the government again, with only minor changes expected to be announced when chancellor Rishi Sunak delivers his Autumn Statement on October 27.
Bira says its number one request is that the chancellor permanently cuts business rates to help support independent retailers, many of which are still struggling to recover from the pandemic. Ceo Andrew Goodacre explains: “This could be done by re-introducing the retail discount and using that to reduce rates by 75% for all retail premises with a rateable value below £100,000. Anything less than this will put many businesses in trouble next year. ”
The association is also calling for the following measures to support the high street:
- A continuation of tax incentives to encourage more investment in the sector.
- Renewed commitment of funds set up in March to help businesses with their digital growth and management skills.
- A review of the current apprenticeship schemeto make it fit for purpose in the retail sector.
- National Insurance contribution allowances increased for indie retailers to lessen the burden on employers.
- Increased investment in town infrastructure and high streets to improve footfall and accessibility while still making strides towards net zero goals.
Top: The chancellor Rishi Sunak is under pressure to reform business rates.
