This ad will be closed automatically in X seconds.

Will Philip Hammond’s Budget Save The High Street?

As embattled retailers large and small – to include thousands of independent gift retailers – continue to battle increased business rates, the latest prediction is that rates are set to rise by 14% over the next five years, netting the government £33.8billion in 2022/2023, compared to the current figure of £29.6 billion.

Another rise would come as a tremendous blow to retailers across the board, to include thousands of gift retailers.

Above: Chancellor Philip Hammond is under pressure to save Britain’s high streets.
Above: Chancellor Philip Hammond is under pressure to save Britain’s high streets.

With retail organisations such as the British Independent Retailers Association (bira), the British Retail Consortium (BRC) and the Federation of Small Businesses (FSB) constantly lobbying the government to help to save Britain’s high streets, the Chancellor Philip Hammond is under increasing pressure to use his Budget next Monday (October 29) to positively address the issue.

A  key issue remains an uneven playing field in relation to bricks and mortar retailers and online companies, with lobbyist arguing for an online retail tax.

 

Top: Will Britain’s high streets survive if business rates rise again?

MORE NEWS
Fenwick
 
They will be revealed to the public today, soundtracked by a bespoke rendition of the classic Christmas carol...
75
 
“Christmas 2025 is a much more lavish affair these days, with new American and European traditions added to the UK’s own”...
Look_out
 
“With qualified help and advice the licensing journey can prove to be a rewarding voyage for retailers - big or small”...
 
Home fragrance and wellbeing company CAHM has opened a shop at Sunny Bank Mills...
SwanMill_Gifted
 
David Byk adds the stationery and calendar company to Ling, GBCC and Penny Kennedy group...
Chancellor.
 
Gift retailers left reeling from triple blow of business rates doubling, employer National Insurance rising and the minimum wage increasing...
Get the latest news sent to your inbox
Subscribe to our daily newsletter

The list doesn't exist! Make sure you have imported the list on the 'Manage List Forms' page.