The organisations have linked up to ask the chancellor to implement a fairer level of business rates for retail and hospitality at the Budget, to rebalance a system that they argue unfairly punishes our high streets and town centres.
In 2023 to 2024, retail and hospitality businesses combined to pay almost £9bn in business rates, 34% of the overall rates bill, while accounting for only 9% of the overall economy.
Current business rates relief for retail and hospitality is set to end on 31 March, costing the sectors a combined £2.5bn.
That would take their bill up to £11bn, accounting for 44% of total rates.
Helen Dickinson, chief executive of the British Retail Consortium, said: “Consumers want diverse and thriving high streets, but this is held back by the broken business rates system.
“It is the biggest barrier to local investment and prevents the creation of new shops and jobs.
“Already, the industry pays far more than its fair share – retail accounts for 5% of the economy but pays 7.4% of all business taxes and more than 20% of all business rates.
“The Budget is a great opportunity to right this imbalance, ensuring that retail pays a fairer level of business rates.”
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