Shop rates: New delay

THE Chancellor will again delay plans to overhaul the business rates regime, driving a ‘nail in the coffin’ of the high street.

The Government will push back an announcement for reform a second time. The commercial property tax has been blamed for high street woes – retail pays a quarter of rates despite making up per cent of the economy.

Helen Dickinson, of the British Retail Consortium, said: ‘Every week of delay is a nail in the coffin for high streets as four in five retailers say they are likely or certain to close stores.’