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Retailers told to thrash out truce on business rates Retailers told to thrash out truce on business rates
(2 months later)
High street retailers and their online rivals are damaging their industry by staging a public row over business rates, the British Retail Consortium has warned.High street retailers and their online rivals are damaging their industry by staging a public row over business rates, the British Retail Consortium has warned.
The BRC's director general, Helen Dickinson, summoned 30 of the country's largest retailers to a meeting to thrash out a truce on business rates, which she called the biggest issue facing the high street.The BRC's director general, Helen Dickinson, summoned 30 of the country's largest retailers to a meeting to thrash out a truce on business rates, which she called the biggest issue facing the high street.
In a statement following the meeting , she said: "There was consensus that the idea of seeing parts of the retail industry in conflict isn't in the interests of the industry and, most importantly, it isn't what customers want."In a statement following the meeting , she said: "There was consensus that the idea of seeing parts of the retail industry in conflict isn't in the interests of the industry and, most importantly, it isn't what customers want."
The comments came after Tim Steiner, chief executive of online grocer Ocado, told the Guardian that bricks and mortar retailers should "shut more shops and stop moaning" about business rates, which apply to high street retailers only.The comments came after Tim Steiner, chief executive of online grocer Ocado, told the Guardian that bricks and mortar retailers should "shut more shops and stop moaning" about business rates, which apply to high street retailers only.
Dickinson also expressed concern that the government is reducing corporation tax but compensating for the loss of revenue to the exchequer with business rate rises.Dickinson also expressed concern that the government is reducing corporation tax but compensating for the loss of revenue to the exchequer with business rate rises.
She said: "The strategy of the government to focus on a very competitive tax regime while at the same time maintaining Treasury revenues has delivered an increasing burden in immoveable taxes on people and property.She said: "The strategy of the government to focus on a very competitive tax regime while at the same time maintaining Treasury revenues has delivered an increasing burden in immoveable taxes on people and property.
"Business rates is the core issue for UK retail, and there was broad consensus that the steep successive rises of the last few years are impacting on retailers' decision-making like never before, especially against a backdrop of the industry's total tax contribution having risen significantly.""Business rates is the core issue for UK retail, and there was broad consensus that the steep successive rises of the last few years are impacting on retailers' decision-making like never before, especially against a backdrop of the industry's total tax contribution having risen significantly."
A recent PwC report found that for every £1 retailers paid in corporation tax, they paid £1.40 in business rates. The chief executive of Sainsbury's, Justin King, who has campaigned for a business rate freeze, also revealed that for every £1 his business saved from a reduced corporation tax bill, he paid an extra £2.50 in business rates.A recent PwC report found that for every £1 retailers paid in corporation tax, they paid £1.40 in business rates. The chief executive of Sainsbury's, Justin King, who has campaigned for a business rate freeze, also revealed that for every £1 his business saved from a reduced corporation tax bill, he paid an extra £2.50 in business rates.
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