The BRC has reacted positively to The Chancellor’s proposed reforms of business rates, acknowledging that it is likely to have far-reaching effects across retail.
Commenting on the matter Helen Dickinson, British Retail Consortium General, said “We welcome today’s official announcement of a ‘radical’ review of the business rates system and we’re looking forward to working with the Government throughout the process to make sure a new system is modern, sustainable and crucially- competitive. It’s important then to get the review process right, so that we don’t waste this great opportunity and can guarantee that we end up with a system which is better for business, better for local government and better for the communities that retailers and other rate payers serve every day.”
The reforms are also set to help and support consumers, acknowledging this Helen stated “The Chancellor included very welcome support for consumers. Extending the personal Income Tax allowance, the new Personal Savings Allowance and increasing the flexibility of ISAs will all make the pounds in our pockets go that little bit further.An additional welcomed measure was the announcement of a further year’s fuel duty free. Taken together these will provide customers with significant additional help when balancing household budgets”.
Other reforms such as those to National Insurance Contributions and the UK’s infrastructure have been supported as positive for the entire retail sector by the BRC.