#business rates

#business rates

Wage rises, holiday taxes and monumental increases in rateable values have put even further pressure on hospitality businesses, as a result of this Budget. A 5p business rates discount is simply not enough to offset these costs and redress the damage it will do to business viability and job opportunities. This is exactly why we called for the government to use the maximum possible discount it had the power to implement, which could have genuinely delivered lower business rates.

While overall footfall fell for the sixth consecutive month, there was some good news on High Streets, which saw positive shopper traffic after a disappointing September. With consumer confidence remaining weak ahead of the possibility of a tax-raising Budget, many households have stayed away from shopping centres and retail parks. However, a Friday Halloween brought some welcome relief, delivering a late-month boost for retailers.

The health of high streets across the country has varied significantly, with areas like Bradford, Newport, and Blackpool showing double the empty shops compared to London.