High Streets UK, a lobbying group representing over 5,000 UK businesses, has issued policy recommendations in response to the government’s Business Rates Discussion Paper, warning that proposed changes could lead to store closures and job losses.
The government is considering increasing the business rates multiplier for properties valued over £500,000 by up to 10 pence, which High Streets UK argues would disproportionately impact flagship high street locations. The group warns this could threaten the viability of more extensive retail, hospitality, and leisure businesses that drive footfall for surrounding smaller enterprises.
Key recommendations include a long-term impact assessment of the proposed multiplier increases, freezing any further hikes until at least 2027/2028, extending Empty Property Relief from three to six months with a 50% discount, and introducing transitional relief for businesses affected by higher rates.
While High Streets UK supports reform, it cautions that current proposals would place an excessive burden on high street businesses across cities like Birmingham, Bristol, Liverpool, and London.
