Almost 20,000 high street jobs may be put at risk next year by a scheduled £240m rise in business rates, Britain’s retailers have warned.
The industry is facing the damaging tax increase because September’s retail prices index (RPI) of inflation, used to calculate the annual rise in business rates, came in at 3.2pc.
The British Retail Consortium (BRC) warned that the extra cost will put as many 19,670 full time jobs at risk as companies struggle to find the money in a market still suffering from anaemic consumer spending.
Helen Dickinson, director general at the BRC, said: “Across the country today, retailers are adding up what this increase in the RPI will mean for the cost of their business rates next year. Many will be wondering whether they will be able to stay open.”
Telegraph
