Changes to business rates could be made to save the high street

01 October 2018 by
Changes to business rates could be made to save the high street

Changes to business rates could be introduced in a bid to save the high street, Greg Clark has told a fringe event at the Conservative party conference.

The business secretary said that the treasury was conducting a review of the rates, following a spate of high-street closures across retail and hospitality, with many struggling businesses citing onerous rates and rents.

Clark said that government recognised the importance of the high street and addressing business rates would be "one way of doing that", the BBC reports.

Responding to the announcement UKHospitality chief executive Kate Nicholls tweeted: "Welcome recognition of the pain on the high street for restaurants, pubs and hospitality here - and their contribution. reform is vital and glad it is recognised at highest levels."

In August Chancellor Philip Hammond said he would consider the introduction of a tax on online businesses, in a move welcomed by the hospitality sector.

Exclusive: Business rates ‘could be scrapped by next year' under Lib Dem campaign, party leader reveals>>

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