Over 50 British Businesses have sent a joint signed letter to Sajid Javid urging him to freeze the business rates multiplier, fix transitional relief, introduce an improvement relief and ensure that the Valuation Office Agency (VOA) is properly resourced to deal with appeals.
The letter was signed by some of the biggest names on the UK high Street with Helen Dickinson, chief executive of the British Retail Consortium, said: “These four fixes would be an important step to reform the broken business rates system that holds back investment, threatens jobs and harms our high streets.
“The new government has an opportunity to unlock the full potential of retail in the UK, and the prime minister’s economic package provides a means to do so.
“The fact that over 50 retail CEOs have come together on this issue should send a powerful message to government. Retail accounts for 5% of the economy yet pays 25% of all business rates – this disparity is damaging our high streets and harming the communities they support.”