With the Government set to present their first budget tomorrow, retail bosses have been sharing their hopes, with business rates reform being at the top of their wish lists. 

Stuart Machin, CEO of M&S, said: “M&S is one of the biggest taxpayers in the UK, contributing £480 million to the Treasury. We’re proud to contribute to the public services that the communities we serve rely on to succeed. I support the new Government’s focus on making work pay. 

“When I hear about plans to increase National Insurance, a tax with no link to profit which hits bigger employers like us and our smaller suppliers, I’m concerned. The Chancellor was right in the past to call National Insurance a tax on workers – it makes it more difficult to offer the life changing opportunity of a job. Particularly if you hike other tax that hit retailers, like business rates or fuel duty.

“Labour’s manifesto contained lots of great pledges, but I worry the reality of government is watering them down. Bold ambitions to “overhaul” business rates and to give firms flexibility over half of their apprenticeship levy funds must not be missing from the Chancellor’s statement.

“The ultimate test is on delivery. The Government is absolutely right that unlocking investment means stripping away red tape, which requires more than just unclogging the planning system.”

Peter Ruis, Executive Director at the John Lewis Partnership, had his say: “I’ve genuinely been thought too many budgets in my career. We’re best just focusing on the retail. If we do our job really, really well wherever it goes, we can trade out of it. 

“Business rates may move this year, they may move next year, we’ll adapt. We’ll change, and we’ll make sure our offer is the best it can be… and I suspect, from a consumer point of view, won’t be as big a deal. Whatever it is, we’ll adapt.”

Simon Roberts, CEO of Sainsbury’s, commented: “We need to see interest rates continue to come down because that directly impacts household spending. I think clarity in the budget, one way or another, is helpful.”

Helen Dickinson, CEO of the British Retail Consortium, said: “Consumers want diverse and thriving high streets, but this is held back by the broken business rates system. It is the biggest barrier to local investment and prevents the creation of new shops and jobs.

“Already, the industry pays far more than its fair share – retail accounts for 5% of the economy, but pays 7.4% of all business taxes, and over 20% of all business rates. The Budget is a great opportunity to right this imbalance, ensuring that retail pays a fairer level of business rates.”

Scott Parsons, Chief Operating Officer at Unibail-Rodamco-Westfield UK, commented: ““We urgently call on the Government to action its election pledge to review business rates and deliver meaningful action instead of the token gestures and disregard that retail property has suffered for the past decade.

“While it’s promising to hear reports that the Government is finally taking steps to level the playing field between online and offline players, this must be followed by swift action. The current tax burden is unsustainable… 

“The strain that this is putting on physical retail is having a tangible impact – 7,000 shops were forced to close across UK high streets this year. Now is the time for the Chancellor to create real change for a vital industry that currently employs over 5.7 million people, contributes over £100bn each year to the UK economy and lies at the heart of our communities. A complete overhaul of the scheme would go a long way in backing up Labour’s promise to kick start economic growth.”