Home / Knowledge / News / Textiles / UK retail firms urge Hammond to ease business rates burden
UK retail firms urge Hammond to ease business rates burden
20
Nov '17
UK retail firms urge Hammond to ease business rates burden
Top British retail company CEOs have urged UK finance minister Phillip Hammond, also called the chancellor of the exchequer, to deliver a “shoppers' budget” on November 22, including decisive action to reduce the business rates burden. No such action will make retailers face a £270 million hike in their burdensome business rates bills next Spring.

A reduction in business rates burden could boost investment plans, including in new or refurbished stores, especially those in less economically viable locations. Almost one in ten retail premises is vacant, according to a press release from the British Retail Consortium (BRC).

Business rates in the United Kingdom are higher than anywhere in the 35-member Organisation for Economic Co-operation and Development and are play a key role in discouraging local investment, BRC said.

“As a priority, the retail industry wants to see decisive action to enable British businesses to continue to invest in the needs of their customers and communities by stemming the near four per cent increase in business rates planned for April 2018. This would be a positive first step towards a more financially sustainable and reformed rates system over the years ahead,” said BRC CEO Helen Dickinson. (DS)

Fibre2Fashion News Desk – India


Must ReadView All

UK retailers may face extra £190 mn in business rates

Apparel/Garments | On 21st Sep 2018

UK retailers may face extra £190 mn in business rates

Retailers in the UK are likely to face an extra £190 million on their ...

Courtesy: EFI

Textiles | On 21st Sep 2018

Digital textile printing expected to grow at 20% CAGR

Digital textile printing is at this time about 3-4 per cent of all...

Bangladesh demands better prices for garment items from US

Apparel/Garments | On 21st Sep 2018

Bangladesh demands better prices for garment items from US

Bangladesh sought better prices for its exports, especially garments, ...

Interviews View All

Top executives, Fabric manufacturers

Top executives
Fabric manufacturers

Domestic manufacturers would get an edge over imported products

Yash Maniyar, Rekha Maniyar

Yash Maniyar
Rekha Maniyar

Indian fashion market is growing at a staggering rate

Mukesh Agarwal & Rajesh Agarwal, Madhuram Fincap Pvt Ltd

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Mark Tokuhara,

Mark Tokuhara

Japan-based FitJoy, a shoe brand for women, has been in the footwear...

Italtex,

Italtex

Italtex is a leading studio publishing fabric trend-books since 1959....

Deepprakash Agrawal,

Deepprakash Agrawal

Radhey Weaves is a Surat-based manufacturer of brocade fabrics. MD...

Chunyi Zhi, City University of Hong Kong

Chunyi Zhi
City University of Hong Kong

<div><b>Chunyi Zhi</b>, associate professor in the Department of Materials ...

Pierre Wiertz, EDANA

Pierre Wiertz
EDANA

Pierre Wiertz talks about the vast world of sustainable nonwovens and...

Silke Brand-Kirsch, Schlegel und Partner GmbH

Silke Brand-Kirsch
Schlegel und Partner GmbH

<div>Schlegel und Partner is the market research and consultancy company...

Tony Ward, Tony Ward

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Divvya and Nidhhi Gambhir, Walnut

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Adriano Goldschmied, AG Jeans

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave of...

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


September 2018

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

news category


Related Categories:

Advanced Search