INDUSTRY leaders fear 400 large-format shops will be shut if the Government goes ahead with a higher business rates tax band.
The British Retail Consortium said they were already under pressure from soaring employment costs and high taxes — which had driven the closure of 1,000 such outlets since 2020.
Yet hundreds more are at risk if they are included in a proposed levy on premises with a rateable value of more than £500,000.
It could see up to 100,000 jobs lost and councils’ business rates receipts from retail fall by “well over” £100million a year.
BRC boss Helen Dickinson said: “Britain’s largest shops are magnets, pulling people into high streets, shopping centres and retail parks.
“They support surrounding cafes, restaurants and smaller and independent shops.”
The organisation is calling on Chancellor Rachel Reeves to exempt larger shops from further tax rises when she announces the autumn Budget on November 26.
Ms Dickinson added: “This would not cost the Exchequer a penny, yet it would secure the future of 400 retail stores, and the communities they support, right across the country.
“But failure to act risks shuttering hundreds more stores (and) costing jobs.”
The BRC said the retail industry accounts for 5 per cent of the economy yet pays more than 20 per cent of all business rates bills.
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TECH A BREAK
MARKS & SPENCER’s chief digital and technology officer, Rachel Higham, is stepping down — months after a cyber attack disrupted its online operations.
Ms Higham, who joined the retailer in June last year, is “taking a career break”.
The online meltdown is expected to cost the company £300million in lost profit for its 2025/26 financial year, although insurance and cost-controls may temper the blow.
IKEA’S £2 FEES
FLATPACK furniture giant Ikea has introduced a £2 fee for its click-and-collect service for non-members.
It will apply to pick-ups from Tesco car parks, DPD points or lockers.
The Swedish company said the fee had been brought in to make its delivery and collection services “financially sustainable”.
Joining the Ikea Family club is free and offers perks such as cheap in-store meatballs.
£88M LOSS HITS LEWIS
JOHN Lewis has posted an £88million loss for the first half of the year, blaming a barrage of higher taxes.
This included a £29million hit from higher NI payments and the Extended Producer Responsibility packaging scheme, both introduced in April. However, the retailer is confident of profit growth by year-end, thanks to rising customer numbers.
Total revenues grew by 5 per cent to £5.4billion for the half-year.
Boss Jason Tarry said it was too early to say whether staff would get bonuses.
