Business rates are the property tax system for businesses, affecting sectors including retail, hospitality and leisure. Sainsbury’s and Usdaw (the union representing shop workers) have called for increases to be suspended and the overall rates payments from retail to be cut by 20 per cent.
They said research, carried out by Development Economics, found continued increases based on the current direction of inflation would drive profitable shops into loss, and mean “an estimated 17,300 closures by 2033-34”. The study also found that over the course of the decade the government would lose almost £5.5bn in tax revenues linked to closures.
Denne historien er fra August 13, 2024-utgaven av The Independent.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra August 13, 2024-utgaven av The Independent.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
Fernandes saves ponderous United with extra-time goal
A stray punch got the battle of Britain going, but it took the right boot of Bruno Fernandes to decide it.
Keys overcomes Swiatek power in semi-final thriller
Tennis has seen its fair share of mesmerising performances.
RFU chief executive vows to stay despite bonus row
A defiant Bill Sweeney has vowed to continue as chief executive of England's Rugby Football Union (RFU) until the 2027 Rugby World Cup, even as he faces a revolt within the game over his tenure.
Canelo vs Crawford is the super fight with a twist
Mexican idol and US star set for September meet as fight fixer Turki Alalshikh strikes again,
Consumer confidence in economy falls to new low’
Consumer expectations for the economy have plunged as the government faces continued pressure over public finances.
SLAVE TO THE BEAT
On 'Eusexua', her defiantly weird paean to the Prague rave scene, FKA twigs bends vital new electronic shapes, writes Helen Brown, while rapper Central Cee's debut delivers
Think kink: the distinctions between BDSM and abuse
Olivia Petter talks to sex educators about what differentiates a consensual sexual practice from abusive behaviour, and why it's so crucial for partners to understand these polarities
Air pollution crisis in focus ahead of Delhi's election
Toxic air in India’s capital, population more than 33 million, has become a key political issue,
Lost Tina Turner track casts light on her return to fame
A surprise treasure has been unearthed from Tina Turner's vaults: the previously unheard track \"Hot for You, Baby\", which was intended for use on her fifth solo album, Private Dancer.
Could Britain really join a European customs union?
Europe's new trade official responsible for post-Brexit negotiations has said a \"pan-European [customs] area\" is something the EU could consider as part of \"resetting\" relations between the UK post-Brexit and the EU.
