Chancellor

Britain’s first ‘plastic-free’ supermarket begins transition

Britain’s first “plastic-free” supermarket in London’s Belsize Park has began its transition, changing more than 1,700 products over to non-plastic packaging. Thornton Budgens has promised to be “virtually plastic-free” within three years, in a “public experiment” supported by local celebrities Jim Broadbent and Janet Suzman. The move follows a Dutch…

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Digital-first retailers cannot overlook payments

Despite the retail industry being worth £366bn to the UK in 2017, the traditional high street has struggled this year. Chancellor Philip Hammond announced a financial package that includes £900m in business rates relief for nearly 500,000 small businesses, and a pot of £650m to rejuvenate high streets. But in…

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RSPH names Grimsby as ‘unhealthiest UK high street’

The Royal Society for Public Health (RSPH) has named Grimsby, North East Lincolnshire, as the ‘unhealthiest UK high street’. The announcement came after a league table published by the group ranked 70 of Britain’s major towns and cities by the impact of their high streets on the public’s health and…

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Autumn Budget 2018: Business rates cut for SMEs and new digital services tax

Chancellor Philip Hammond has confirmed plans to give smaller retailers a 33% cut to business rates and introduced a new digital services tax for companies with at least £500m in global revenue. The reduction in rates will take place over the next two years and is expected to save businesses…

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Chancellor to propose £900m rates relief plan for smaller retailers

Chancellor Philip Hammond is expected to announce a rates relief for retail SMEs and relax town planning rules on the high street. The budget announcement will be made today (29 October) and Hammond is expected to cut business rates by 33% for 496,000 small retailers, saving £900m. It is also…

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New West End Company issues ‘stark’ warning to government over tax-free shopping

The New West End Company (NWEC) has issued a “stark” warning to the government over tax-free shopping in a joint letter to chancellor Philip Hammond, signed by over 300 West End retailers. In the letter, the trade body warned that the UK risked a further loss of international competitiveness post-Brexit…

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Retail sector ‘to face £186.45m business rates increase next April’

Retail firms will see business rates increase by £186.45 next April for the year 2019/20, according to real estate advisor Altus Group. September’s Consumer Prices Index (CPI) measure of inflation, announced on 17 October at 2.4% will determine business rate rises in England for the next year. It is its…

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New West End Company calls for £5bn business rate reduction

The New West End Company, which represents retailers in London’s West End has called for a £5bn reduction in business rates, financed by a 1% tax on online retailers. This week’s Conservative Party conference has seen representatives of the organisation lobbying for the reduction. Businesses across the West End will…

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Business rates could be changed to help retailers, says Greg Clark

Secretary of state for business Greg Clark has admitted that business rates could be changed in order to help high street retailers. Clark told a fringe event at the Conservative party conference that a change in business rates would be “one way” of recognising the role that high street retailers…

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John Lewis Oxford Street flagship sees business rates rise 57% in a year

John Lewis’ flagship on Oxford Street, London is expected to see its business rates tax rise from £12.68m to £19.91m up 57% compared with last year’s revaluation. According to real estate advisor, Altus Group, the Oxford Street store alone will pay £41.04m in business rates over the four years of…

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