Budget Reaction: Local Shops Welcome Rate Relief Announcement

ACS has responded to the Chancellor's Budget, welcoming measures to support local shops through reductions in business rates. 

Comments from ACS chief executive James Lowman on the key announcements are below: 

On business rates and high streets: “We have long campaigned for changes to the rates system, and are pleased that the Chancellor has listened to the concerns of businesses by introducing a 1/3 discount to rates bills for small businesses that will save the convenience sector up to £50m over the next two years. For local shops on high streets, operating costs are significantly higher, so we welcome additional funding for local authorities to support those businesses.”

On the announcement of the new National Living Wage rate (£8.21 per hour): “When wage rates increase, retailers have to make tough decisions about how they manage the impact, with many forced to work longer hours themselves and others reducing staff hours and overall job numbers to stay afloat. We will continue to work with the Low Pay Commission to ensure that they consider the impact of higher wage rates on businesses, and welcome the Government's acceptance of the Low Pay Commission's recommendations.

On the environment: "We will work with the government and supply chain regarding the new tax on plastic packaging applied to producers to ensure that there are no unintended consequences for retailers."

On tobacco duties: “Increases to tobacco duties serve only to drive more consumers to the dangerous illicit market and undercut legitimate, responsible retailers. The Government still needs to do more to support local enforcement against the illicit trade.”

The full Budget document is available here: https://www.gov.uk/government/topical-events/budget-2018

Listen to the ACS team discussing the Budget announcements below: 

This entry was posted by Chris on Mon, 29/10/2018 - 16:45