Rachel Reeves is plotting a £1.7bn tax raid in the autumn, which retailers have warned will accelerate the decline of high streets.
The Chancellor will reportedly use her next Budget to increase business rates for department stores and supermarkets as she looks to plug a £5bn hole in the public finances left by about-turns on benefits and winter fuel cuts.
Read the full article on the MSN website
NAM Implications:
- Based on the assumption that ‘big means successful in retail’.
- Despite the fact that department stores have been ‘past sell-by’ for years.
- Another nail in my heart…
- …a further squeeze on the High Street.
