Chancellor Sajid Javid appears to have disregarded a letter signed by over 50 retail bosses which urged the government to reform the business rates system.
As reported earlier this week, bosses from some of the largest retailers such as Asda, Sainsbury’ & Marks & Spencer wrote to the chancellor asking for him to consider reforms to the rates system. The letter requested four changes including a freeze on the business rates multiplier, that they felt would address many of the problems in the current system.
A Treasury spokeswoman who did not address the four requests made, said: “Last month, the Prime Minister announced a £3.6 billion Towns Fund to support our high streets and town centres, allowing them to attract greater footfall, jobs and investment.
“The Chancellor will announce further details of the government’s policy programme in the coming weeks and months.”
The Treasury also stated that the review of business rates that took place in 2016 did not produce any consensus on alternatives to the current system.