Home / Knowledge / News / Retail / BRC hails recognition burden of business rates must fall

BRC hails recognition burden of business rates must fall

16
Mar '20
Pic: Shutterstock
Pic: Shutterstock
The recent budget does little for larger retailers, offering a string of cost hikes with no respite in the short term, according to the British Retail Consortium (BRC), which, however, said the chancellor of the exchequer Rishi Sunak has listened to the retail industry. BRC welcomed the chancellor’s recognition that the overall burden of business rates must fall.

“The chancellor has shown he is capable of making bold decisions, this will be critical to the upcoming review of the broken business rate system. We welcome the stated objectives of reducing the rates burden on business, something we have been calling for, and the inclusion of changes to transitional relief as an option to provide short-term relief from April 2021. It is vital that the burden is reduced for all retailers—large and small—if it is to promote further investment in productivity growth and higher skilled, better paid jobs. We hope this open-minded approach carries through to implementing positive changes once the review has concluded later this year,” BRC chief executive Helen Dickinson said in a statement.

“Despite announcing his support for British business, the Chancellor has failed to provide any relief for larger retailers, who employ the majority of the industry’s 3 million workers and currently foot most of the industry’s £7.5bn business rates bill. In April, these retailers will face yet another rise in business rates across England, piling on even more pressure on shops at a time when they are squeezed by lower demand and increasing costs arising from coronavirus,” he added.

Fibre2Fashion News Desk (DS)


Must ReadView All

Pic: Shutterstock

Textiles | On 4th Dec 2020

India to position itself as global MMF, tech textiles hub

India is working on major interventions to position itself as a...

Pic: Shutterstock

Textiles | On 4th Dec 2020

US bans cotton imports from Chinese producer XPCC

The US Customs and Border Protection (CBP) agency recently banned...

Pic: Shutterstock

Apparel/Garments | On 4th Dec 2020

PVH Corp Q3 FY20: sales $2.11 bn; net income $70 mn

PVH Corp, a US-based global apparel companies, has reported 18 per...

Interviews View All

Dharmendra Shah, Ozone PB Spintex Limited

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Top executives, Textile industry

Top executives
Textile industry

Defining MSMEs on the basis of turnover makes it simpler to do business

Nitin Soni, Dolphin Jingwei Machines

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Shyam Gupta & Ravi Gupta,

Shyam Gupta & Ravi Gupta

Based out of South Delhi, Gargee Designer's provides bespoke formal and...

Himanshu Fogla,

Himanshu Fogla

Jumac, pioneers in spinning can manufacturing in India, was founded in...

Sham Shah,

Sham Shah

Shamal and Shamal Pvt Ltd is into manufacturing and sales of textile...

Ayyappa Nagubandi, Broadcast Wearables Pvt Ltd

Ayyappa Nagubandi
Broadcast Wearables Pvt Ltd

Hyderabad-based Broadcast Wearables has come up with the country's first...

Ray Baughman, University of Texas -Dallas

Ray Baughman
University of Texas -Dallas

<div>A team of scientists and researchers have discovered twistrons,...

Suresh Patel, Sidwin Fabric

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Sidharth Sinha, Sidharth Sinha

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Anisha Chaudhari, Threads & Shirts

Anisha Chaudhari
Threads & Shirts

Threads &amp; Shirts is a freshly-tailored concept providing men/women a...

Yash P. Kotak, Bombay Hemp Company

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


December 2020

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search