As with many aspects of life, the underdog has a daily struggle to succeed or even survive. The underdog here in question is non-other than the high street which has received some blows over the past few years, but now has been dealt with one that couple cripple small businesses, but benefit those in less need.
Small businesses are subsidising supermarkets says Bill Grimsey
But what could be so damaging to the high street, but not to supermarkets? The Government’s decision to postpone the review of business rates until 2017 could save supermarkets £1.3 billion in tax over the next three years. But how are they making a saving and the high street not?
According to a report commissioned by Bill Grimsey, the former boss of Wickes and Iceland, properties were last valued in 2008 to give them their business rates costs. A lot has happened since then but business rates will remain the same right up until 2017.
Speaking of the decision to postpone the business rates review, Mr Grimsey said: “All the evidence suggests that small businesses, many of which are really struggling at the moment, are going to be subsidising the big four supermarkets as a result of the Government’s decision to postpone the business rates revaluation. That cannot be right and it can’t be fair.”
Do you think it is fair for the government to postpone a business rates review when it could help the high street?
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