In figures released today by the ONS, rates have risen to 9%, the highest in 40 years, as energy bills, fuel and food prices continue to drive up the cost of living. The British Independent Retailers Association (Bira) is therefore callingfor a reduction in business rates to support those struggling to deal with the extra costs.
“Inflation at these level is a new challenge for many independent retailers,” states Bira’s ceo Andrew Goodacre.
“While there is an understandable focus on the cost of living, we would urge the government not to forget about targeted support for businesses also struggling to deal with the extra costs due to inflationary pressures.
“Retailers are doing all they can to reduce the impact on prices for shoppers which means reduced profit margins for everyone. We would like to see this year’s 100% increase in business rates reversed and some way of helping businesses manage the rising costs of energy,” he said.
Top: Bira is lobbying the government to reverse this year’s business rate increase.
