Business Rates

UK Treasury rejects retailers’ business rates reform calls

The UK Treasury has today rejected calls from retailers who say business rates should be reformed to create a level playing field with online retailers. During a meeting of parliament’s Treasury Select Committee, chancellor Philip Hammond said reforming international corporation tax was a higher priority for the government, adding that…

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Retail sales fall for fifth consecutive month

Retail sales fell for the fifth month in a row in June, data from BDO’s High Street Sales Tracker has shown. Total in-store like-for-like sales were down 1.7 percent compared with last year, when the figures rose 1.3 percent. It is also the ninth consecutive month that sales growth figures…

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BRC calls for two-year freeze on business rates

The British Retail Consortium (BRC) has asked the government to consider freezing business rates for two years to ease the pressure on retailers. By proposing a two-year freeze on increases, the BRC said it would give time for the government and industry to develop a proposal for an updated taxation…

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Retail footfall returns to high street

High street footfall increased to 0.5 percent in May according to the latest BRC-Springboard Footfall and Vacancies Monitor. According to the report May’s better weather resulted in a marginal improvement in footfall across the nation’s high street and out-of-town shopping areas, but it wasn’t enough to overcome the long term…

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How safe is your job?

Despite a three percent drop in employment, Pet Gazette discovers that the retail sector is still going strong “The pace of job reductions in the retail industry is gathering steam,” says British Retail Consortium (BRC) chief executive Helen Dickinson OBE. In October, the BRC reported a record reduction in retail…

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Retail sales increase by 0.3%

Retail sales increased by 0.3 percent in July 2017, compared with the previous month, according to the Office of National Statistics. This was due to strong sales in food stores at 1.5 percent; recovering from a fall of 1.1 percent in June 2017. The underlying pattern in the quantity bought, measured…

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Small firms ‘squeezed’ by inflationary pressure, says FSB

The Consumer Prices Index (CPI) remains above the Government’s 2 percent target. The CPI is a measure that examines the weighted average of prices of a basket of consumer goods and services. Its 12-month rate rose to 2.9 percent in May 2017, up from 2.7 percent in April, reported the Office for…

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Bira asks political parties to support independent retailers

With the UK’s General Election set for June 8, the British Independent Retailers Association (bira) has asked all parties to pledge their support for the independent retailer. In a statement released by the organisation, bira said: “It was a comfort to the sector when the Department for Communities and Local Government…

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Small business confidence continues to rise

UK small business confidence is at its highest level in over a year, according to the latest Federation of Small Businesses (FSB) Small Business Index (SBI). Despite a rise in business costs there has been a strong recovery pushed forward due to increased international trade. A net balance of 15.6…

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Budget a ‘disaster’ for pet stores, says new PIF Chair

The newly appointed chair of the Pet Industry Federation (PIF) has spoken out against the recent budget, calling it a ‘disaster’ for small high street pet stores. Referring to the announcement last week by the Chancellor, Philip Hammond, that business rates would not be reduced for small businesses, Steve Fowler,…

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