Major UK retailers urge chancellor for immediate business rates suspension
Major British retailers have called on the chancellor to go further with measures to protect the retail, hospitality and leisure sectors from the dramatic economic impact of coronavirus.
Primark, Arcadia and New Look are among the firms to sign a letter this afternoon urging Rishi Sunak to immediately suspend business rates bills until normal trading resumes.
The chancellor is expected to give a joint press office with the prime minister this afternoon to give an update on measures to help businesses.
Sunak announced a range of measures in last week’s budget, including a business rates holiday for all hospitality and leisure firms with a rateable value of less than £51,000.
However the coronavirus threat to business has ramped up in the weeks since and firms have said the allowance does not go far enough, as it excludes most London firms and bigger businesses.
The letter from retailers said: “All major retailers, including the members of this group, urgently need the Government to take measures to support the whole sector during these unprecedented times.”
The hospitality sector yesterday criticised the government for advising the public to avoid pubs, clubs, restaurants and bars without offering any additional support for the industry.
Cinemas and theatres across the country have closed in response to the new measures announced by the government yesterday.