High Streets UK, a pro-growth partnership of over 5,000 businesses across the country, has released a series of policy recommendations in response to the Government’s Business Rates Discussion Paper.
Central BID Birmingham is a founding member of the group and its requests are informed by insights from hundreds of member businesses operating on flagship high streets nationwide.
Under the Government’s proposed business rates reform, properties with a rateable value of more than £500,000 could be subject to a business rates multiplier up to 10p higher than the current levy. This would place a disproportionate burden on physical flagship high street locations risking the viability of properties in areas like Birmingham, Bristol, Liverpool, and London. The upcoming 2026 revaluation adds further uncertainty, disincentivising near-term investment.
High Streets UK is calling on the Government to take urgent action to avoid unintended consequences such as store closures and job losses. Key recommendations include conducting a full impact assessment of proposed multiplier increases and freezing any hike in the higher multiplier until 2027/28 to provide greater certainty.
Dee Corsi, Chair of High Streets UK and Chief Executive of Founding Member, New West End Company, said: “Flagship high streets are the economic and social anchors of our cities – they create jobs, drive local and national growth, and serve as vital hubs for communities. Moreover, within a high street ecosystem, it is often the larger retail, leisure and hospitality units which drive footfall and spend in smaller neighbouring businesses. If you put these larger stores at risk, the impact will be felt across the entire high street.
“As a collective voice for these high streets, High Streets UK is calling on the Government to take urgent action to safeguard their future, ensuring our city centres remain dynamic, competitive, and resilient.”