The British Retail Consortium (BRC) has expressed disappointment over finance minister Rishi Sunak not reversing the decision to end tax-free shopping for international visitors to the United Kingdom.
“The policy will deliver a relatively small saving for the Treasury at the expense of a far greater return to the UK economy, and will damage the UK’s position as a top destination for international shoppers," BRC chief executive Helen Dickinson said in a statement.The British Retail Consortium is unhappy over finance minister Rishi Sunak not reversing the decision to end tax-free shopping for international visitors to the United Kingdom. It urged the government to adopt its proposal for business rates relief at 50 per cent, which reflects the fall in retail property values and brings market reality into the system.#
BRC urged the government to adopt its proposal for business rates relief at 50 per cent, which reflects the fall in retail property values and brings market reality into the system, while generating much needed revenue for the treasury.
“This, along with an extension to the moratorium on debt enforcement, to encourage constructive dialogue between landlords and tenants on rents, will support the resilience of the retail industry. This would allow the industry to invest in the future and play its part in the economic recovery of the UK,” Dickinson said.
“We support the Government decision to adopt the Low Pay Commission’s recommendations for a moderate increase to the New Living Wage. Many retailers are already paying wages above the NLW and will continue to do so into the future,” Dickinson added.
The UK economy is expected to shrink by 11.3 per cent this year, Sunak told parliament recently.
Fibre2Fashion News Desk (DS)
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