Retailers warn increasing rates for bigger stores will harm high street

UK supermarket closures: 100+ major supermarkets including Asda and Tesco risk closing as business rates rise

Shoppers could face fewer local supermarket options as rising property taxes hit stores 🛒

Retailers warn increasing rates for bigger stores will harm high street

Welsh Retail Consortium warns proposed business rates surtax on larger retailers could harm high streets. WRC urges fair reform of Wales business rates.

Business Rates Rise Could Lead To The Closure Of Over 100 Large Supermarkets

More than 100 large stores operated by the leading supermarket chains could face closure as a result of government plans to raise business rates at a time when the sector is already bearing the brunt of increased employment costs. Industry (more…) The post Business Rates Rise Could Lead To The Closure Of Over 100 Large Supermarkets appeared first on KamCity.

Over 100 big supermarkets at risk from business rates rise - Retail Gazette

The UK’s planned business rates rise will tip more than 100 supermarkets run by the likes of Sainsbury’s, Tesco and Morrisons into the red as costs pile up on the industry. Around 50 of Sainsbury’s 600 larger stores will become unprofitable, while Tesco will see “tens of stores” tip into the red, The Financial Times reported. It comes as the government is planning to raise business rates on properties with a rateable value of more than £500,000 …

It’s time we had a system that stopped taxing retailers as if it were 1599

Our high streets have had a tough time in recent years – battered by a global pandemic, war, energy shocks and soaring inflation. Yet despite it all, shops have kept going – serving their communities, creating jobs, and showing remarkable resilience. But resilience isn’t a plan for growth, and nostalgia won’t pay the bills. If we’re serious about bringing our high streets back to life, we need to stop papering over the cracks and fix the system …