"Supermarkets are doing everything possible to keep food prices affordable, but it's an uphill battle, with over £7bn in additional costs in 2025 alone. From higher National Insurance contributions to new packaging taxes, the financial strain on the industry is immense. Large retail stores sustain nearly one million British jobs and already contribute a third of all retail's business rates, despite being a tiny proportion of all stores."
"This letter calls on the Chancellor to exempt shops from the new business rates surtax - levied on all large commercial premises. This would not only help to tackle food inflation but would support jobs and investment right across the country. The Chancellor has rightly made tackling inflation her top priority, and with food inflation stubbornly high, ensuring retail's rates burden doesn't rise further would be one of the simplest ways to help."
Supermarket leaders organised by the BRC have written to the Chancellor seeking exemption from a proposed business rates surtax, warning it would raise food price inflation. Retailers cite rising cost pressures from higher employer National Insurance contributions and minimum wage increases and project over £7bn in additional costs in 2025 alone. Large stores report sustaining nearly one million British jobs and already bearing a significant share of retail business rates. The requested exemption is presented as a targeted measure to protect affordability, support jobs and investment, and shift a slightly larger share of rates to large offices and industrial premises.
Read at London Business News | Londonlovesbusiness.com
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