Dee Corsi, Chief Executive of the New West End Company, said:

“Far from proper reform, today’s changes to business rates only tinker with a broken system – providing some short-term relief at the expense of necessary change.

“Even though they haven’t done so today, the Government can still increase the higher multiplier by 10p in the future. And, under the current framework, large retail, hospitality and leisure businesses are being conflated with online giants and warehouses. They are not the same. Failure to recognise this shows a worrying lack of understanding of how high streets work.  

“Listening to the Chancellor today, you would think the new ‘super tax’ will only target a faceless 1%. But much-loved department stores, hotels and leisure venues, on flagship high streets from Birmingham to Newcastle, are up to five times more likely to be impacted than businesses elsewhere. This rises to nearly double in London’s West End.

“All high street businesses should be recognised with full exemption, protecting them from future multiplier increases. It is these businesses that bore the brunt of tax hikes in the last Budget, and many simply cannot shoulder an additional burden.”

END