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Retailers concerned over rate supplements
 Extra business rate supplements could push up annual costs paid by retailers to £7bn, the British Retail Consortium (BRC) argued today.The BRC said supplements, added to business rates revaluation and the loss of empty property relief, will mean retailers will be under increased pressure when times are already tough.Director general Stephen Robertson said: “Many retailers are struggling with the triple whammy of falling sales, crushed margins and rising costs.
“The government must revise its plans to impose a range of extra burdens, which can only increase the pressure on retailers and destroy more of the UK’s three million retail jobs. “Retailers are crucial to livelihoods, customers and communities. We don’t expect handouts but we don’t want further handicaps.” From April 2010 local authorities will be able to charge a retailers a supplement on existing rates. Before Christmas, the BRC said the Business Rate Supplementary Bill, which gets it second reading in Parliament today, could be used to hike taxes charged to retailers. |
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