ACS has called on the government to introduce a targeted package of measures to support the UK’s local shops.
Ahead of the planned fiscal event – or ‘mini-Budget’ – on 23 September, ACS has called for the following measures to support retailers:
- Introduction a small business energy cap that reflects the support being provided to domestic consumers;
- Extension the 100% business rate relief for the retail sector through to the end of the 2022/23 financial year;
- Freezing the business rates multipliers in 2023;
- Confirmation of plans for a transitional rate relief scheme to mitigate the impact of rising rates bills as a result of the latest revaluation.
ACS chief executive, James Lowman, said: “Immediate support on energy bills this winter is crucial to the survival of thousands of convenience stores. The most straightforward way of delivering that support is through a cap that reflects the support being provided to consumers. The government must act as soon as possible to announce the details of what it intends to do, as retailers are making decisions right now about their future viability.
“Beyond energy support, we are calling on the Government to help retailers with the cost of business rates. With the rates revaluation looming, many local shops will be facing a significant hike in their business rates bills, which during this uncertain time is likely to have a damaging impact on future investment plans. If this Government is serious about driving growth throughout the economy, incentivising small entrepreneurs to invest in their communities must be front and centre.”
In addition, ACS is continuing to call on retailers to email their MPs highlighting the problems they’re facing with energy – more information about the campaign is available here.
