The head of PrimarkThe original company has issued a clear warning GovernmentBranding proposed changes business rates A significant burden on the UK High Street Retailers.
George Weston, Billionaire Head Associated British Foods (ABF), told Pa news agency That labor government should not increase ” Taxes On any more businesses in the upcoming November budget.
This financial pressure has intensified concerns that businesses can be targeted with further tax growth, especially for working persons to avoid increasing taxes.
Businesses have already struggled with a series of rising costs, including national insurance contribution, national minimum wages and extended manufacturer responsibility (EPR) packaging.
“Increase in labor and packaging has already affected and it is important that it is not difficult for businesses to invest and make jobs,” Mr. Weston said.
“My message to the government is that taxes should not increase on businesses.”
Many hospitality, retail and holiday businesses in the UK have also seen the cost of commercial rates – tax on commercial properties – the last 75 percent discount on rates was reduced by 40 percent in April.
The government is starting another shake-up for commercial rates in April next year, designed to reduce the rates of small high road businesses.
However, Mr. Weston said that as a result of the primer, the primer would face much more bills, more paying to help cover the cost with large shops and supermarkets.
“We are happy that the government admitted that problems with the system of commercial rates had occurred,” he said.
“But changes mean special pressure on large stores that are necessary to anchor high roads, and I think it was a very wrong policy.
“We would like to see that reconsideration.”
The primer runs 460 stores globally, out of 190 in the UK.
The British Retail Consortium (BRC) on Friday warned that 400 large stores were at risk if they were included in the government’s new commercial rates, which affects the complex for more than £ 500,000, at risk.
Experts have said that except for supermarkets, in about 363 large shops, resulting in their rates in April next year, their rates are expected to see an increase.
Global tax firm Ryan has estimated that such shops in a required certain will cost commercial rates per year.
Property tax practice leader Alex Probin said in Ryan: “It is a secret that punishes a lot of businesses that anchor our high roads and provide mass employment.
“The largest stores are already prominent contributors to the tax base, and an additional levy will reduce their ability to invest, grow and support local economies.
“It also runs directly contrary to the government’s policy purpose of supporting our high roads and retail.”