Home / Retail / New budget gets mixed reception from BRC
Industry group welcomes small business tax relief but disappointed by business rate hike

New budget gets mixed reception from BRC

The British Retail Consortium has welcomed some aspects of the new budget but has expressed concerns over others.

The group was positive about a number of aspects including the suspension of fuel duty, pledges to reduce red tape and infrastructure investment. It also welcomed the announcement of a small business rate relief, but warned that setting the qualifying bar so low meant that many businesses in the South-East would miss out.

The BRC also expressed concerns that a postponement of business rate hikes falls short of the genuine reform needed to support UK business.

“The option to postpone 60 per cent of April’s increase will be a modest help but the bills will still have to be paid in the end. Offering a delay stops well short of implementing a significantly lower increase,” commented the BRC’s director general, Stephen Robertson.

"The Chancellor should have taken the opportunity to switch to a lower CPI-based rise, as he has done for pensions and benefits, and the deferral scheme needs to be simple and workable unlike the last time this was tried."

Check Also

First biometric bank cards hit UK

The first biometric fingerprint card issued by a UK bank has entered circulation. As part …