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Rise could prevent retail growth

UK retailers demand business rate freeze

The British Retail Consortium has called for a freeze in business rates after warning that a 2.6 per cent increase would prevent retailers from growing.

According to ERT, a rise could prevent jobs from being created, especially as businesses have already been hit by significant rises in business rates – 4.6 per cent in 2011 and 5.6 per cent in 2012.

The BRC has written an open letter to the Financial Times and is calling on retailers to join its Fair Rates for Retail campaign.

“We urge the Government to recognise that retail has already given more than its fair share to the Exchequer and to freeze business rates in 2013,” reads the BRC’s missive to the Financial Times.

“It should also act on its commitment to review the mechanism by which rates are increased, to ensure a fairer and more sustainable formula for the future.”

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