Business Rates
This coverage examines business rates policy and its implications for the UK retail sector. Reporting focuses on government decisions, reforms, rate relief measures, and their impact on store operations, profitability, and investment decisions. Tailored for retail executives and managers, it provides analysis to help navigate costs, advocate for change, and plan effectively in response to fiscal pressures.
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Aug- 2021 -24 AugustHigh Street
BPF calls for business rates reform
The British Property Federation (BPF) has called on the government to set out a roadmap to annually revalue business rates in a bid to avoid “crippling” high streets, citing that a business rates reform is “long overdue”. It comes as the government’s Business Rates Revaluations Consultation, proposing to introduce more…
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12 AugustEconomy
UK economy surges 4.8% in June
The UK economy grew by 4.8% in June as Covid-19 restrictions surrounding retail and leisure were eased across the UK, according to figures published by the Office of National Statistics (ONS). Gross domestic product (GDP) is estimated to have grown for a fifth consecutive month in June 2021, by 1.0%,…
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10 AugustHigh Street
July sales increase 6.4% but remain below yearly average
On a total basis, sales increased by 6.4% in July, against a growth of 3.2% in July 2020, according to the latest British Retail Consortium (BRC)-KPMG retail sales monitor. Despite the rise in sales, however, the monitor found that this was below the three-month average growth of 14.7% and the…
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10 AugustGovernment
Bira in talks with metro mayors to help retailers post-pandemic
The British Independent Retailers Association (Bira) has said it is involved in discussions with mayors of UK metropolitan cities to discuss “new ways” of supporting independent retailers post-pandemic. The talks, which are being led by the group’s CEO Andrew Goodacre, have been looking at support for reforms to business rates…
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Jul- 2021 -30 JulyHigh Street
One in seven UK shops still remain vacant, BRC reveals
More than one in seven shops on UK high streets, retail parks and shopping centres are currently vacant, according to the latest data from the Local Data Company and the British Retail Consortium (BRC). The data revealed that fashion stores were amongst the “hardest hit” as customers primarily shifted to…
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21 JulyEntertainment
HMV to open 10 high street sites
HMV, the music and entertainment retailer, reportedly intends to launch 10 new shops across the UK this year. According to the BBC, the plans include the opening of a new London flagship site, following the closure of its former Oxford Street flagship as the group collapsed into administration over two…
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2 JulyCoronavirus
450,000 businesses to be hit by tapered support measures
The retail sector is set to be hit by the tapering off of government support measures, with businesses now set to contribute 10% towards the cost of furlough following measures that came into effect yesterday (1 July). The move will affect an estimated 450,000 businesses, including many retailers, according to…
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Jun- 2021 -18 JuneDepartment Stores
John Lewis appoints AlixPartners to conduct supply chain review
John Lewis has reportedly appointed AlixPartners to conduct a strategic review of its supply chain and buying habits. According to Drapers, the restructuring firm has been instructed to examine its supply chain and its buying practises, including intake margins, in order to see if it can save variable costs. The…
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15 JuneCoronavirus
Sunak to reject furlough extension calls despite ‘freedom day’ delay
Chancellor Rishi Sunak is reportedly set to reject calls for an extension of the furlough scheme and business rates report to businesses despite the prime minister announcing a four-week delay to the lifting of restrictions. According to the Guardian, sources close to the chancellor have said that he believes sufficient…
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9 JuneCoronavirus
RSM retail head calls for ‘more flexible furlough scheme’
Jacqui Baker, head of retail at RSM, has called for a more “flexible furlough scheme” to allow retailers to “manage peaks and troughs of activity”, as the UK comes out of lockdown. In her plea, which comes ahead of the government’s coronavirus select committee this afternoon, Baker said that retailers…
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