Sixty chief executives of some of Britain’s biggest retailers – including IKEA, Dreams, Bensons and John Lewis – have written to the Chancellor to ask for action ahead of the Autumn Budget.
Helen Dickinson, chief executive of the British Retail Consortium (BRC), notes: “Last year’s budget added £7b to retailers’ costs which in turn are driving up prices for ordinary families. This is why Britain’s largest retailers are writing to the Chancellor, calling for action on business rates to fix a system which sees retailers, as 5% of the economy, pay over 20% of the total rates bill. Without reform, this system will continue to cost jobs, limit investment and push up prices for households everywhere.
“The Chancellor has the opportunity at the next Budget to deliver a meaningful reduction in retail, hospitality and leisure bills, while ensuring that no shop – large or small – pays more than it presently does. This can be done at no cost to the public purse and with huge benefits to the public good. It is the moment for Government to buy into retail and make a difference to millions of families up and down the country.”
The letter's signatories include: Sue Kemp, MD, Associated Independent Stores; Graham Bell, CEO, B&Q; Nick Collard, chief executive, Bensons for Beds; Mireille Baumgart, chairman, Concept Living; Jonathan Hirst, chief executive, Dreams; Peter Jelkeby, UK and Ireland country CEO and CSO, IKEA; Jason Tarry, chair, John Lewis Partnership; and Simon Roberts, CEO, Sainsbury's.
