16 Sep 2014
Business rates have been called a ‘critical problem’ in an open letter, which was published in The Daily Telegraph and signed by some of the biggest retailers and manufacturers in the UK.
Demanding fundamental reform, the letter says: ‘A modern, sustainable and transparent system would unleash investment that could bring skilled and entry level jobs and new and expanded businesses into our local communities. Those who seek a competitive tax regime as a draw for investment and jobs should apply that logic to business rates.
‘It is no longer an option to say that reform is too difficult or complicated and we call on all political parties to commit to fundamental reform in their manifestos for the next General Election’.
The Treasury receives around £25 billion per year from business rates alone.
Among the signatories are: Tesco, Marks & Spencer, Sainsbury’s, Morrisons, John Lewis Partnership, the Forum for Private Business, and the Federation of Small Businesses.