05 September 2022

The British Independent Retailers Association has called on the new Prime Minister to immediately address the economic challenges facing the country.

In an open statement to the UK's new leader, Bira's CEO Andrew Goodacre urged them to look at support for the high street and deliver.

Mr Goodacre said: "We hope that as well as campaigning to secure the votes, the new Prime Minister has also been working on plans to address the immediate economic challenges, both short term and medium term."Bira has been raising concerns since last October and we have continued to work with government departments to help them understand the challenges faced by retailers and the high street in general. In the short terms we need to see:

  1. Financial support given to the smaller retailers who are facing 50% increases in energy costs. The new Prime Minister needs to bring forward a COVID-19 type response by introducing  a 100% rates relief for the rest of this tax year.

  2. At the same time we need to improve consumer confidence for the all important final quarter of the year. To do this the government need s to give certainly to the energy bills being paid with no more increases. This will allow households (and businesses) to budget and plan ahead.

  3. Find another way of stimulating demand is to reduce VAT, and this should also be considered.
  4. In the medium term the government needs to introduce a grant or loan system that encourages smaller businesses to invest in energy saving technology, therefore reducing the demand for energy. This could also be done in the form of tax breaks and wholesale reform of the business rates system.

Mr Goodacre added: "Independent retailers are integral to high streets. High streets are integral to communities and so they need support and protection form this toxic economic situation. For many smaller retailers, Covid-19 has drained them of cash and we must not let perfectly viable businesses disappear from the communities they serve."

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