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retailers back the Fair Rates for Retail campaign

4 October 2012

Retailers are throwing their weight behind the Fair Rates for Retail campaign which was launched last week by the British Retail Consortium and Retail Week.

The campaign to lobby the Government to freeze business rates next year, comes after two years of punitive rates increases which has added more than £500m to retailers’ costs.

Retailers are also urging for a change in how rates are calculated. At present the September Retail Price Index will be the key determinant. However, retailers want the Government to switch to a 12 month average of the less volatile Consumer Price Index (CPI).

At present retailers are facing a likely increase of £200m; the CPI usually moves in a narrower range and could ensure greater long-term affordability and certainty for the retailers.

We think the Government needs to seriously consider the proposals in order to assist an already burdened retail industry.

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