18 May 2022
The British Independent Retailers Association (Bira) has called for a reduction in business rates to support those struggling to deal with the extra costs.
In figures released today by the ONS, rates have risen to 9%, the highest rate in 40 years as energy bills, fuel and food prices drive up the cost of living.
In response to this news, Bira's CEO Andrew Goodacre said: "Inflation at these levels, the highest for 40 years, is a new challenge for many independent retailers.
"Whilst 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.
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