High Streets UK Warns Starmer’s Tax Hike Could Cripple Flagship Stores and Kill Investment
In Bristol and beyond, a coalition of high street businesses is rallying against government plans to hike business rates for the largest properties, warning that such changes could disproportionately impact major retailers and alter the urban retail landscape.
High Streets UK, a group representing over 5,000 businesses nationwide, argues that the proposed increases in business rates for properties valued over £500,000 will unfairly burden flagship stores. These changes are meant to fund a reduction in rates for smaller high-street shops, but the group contends that this could discourage investment ahead of the 2026 revaluation, adding layers of uncertainty.
More: Martin Lewis Issues Urgent Warning to Anyone Holding Over £10,000 in Savings
More: Massive Rent Hikes Up to £600/Month Could Leave Thousands Homeless by April 1
The organization is pressing Sir Keir Starmer’s government for a thorough impact assessment of the proposed changes and has suggested freezing any increases in the higher rate multiplier until the 2027/28 fiscal year to provide more stability.
Vicky Lee, director of Bristol City Centre BID, speaking on behalf of Visit West Bristol BIDs, emphasized the need for a reform that fosters rather than frustrates the growth of high streets. “Bristol’s high street businesses are a crucial part of our city’s economy, driving jobs, tourism, and investment,” she stated. “We urge the Government to take a balanced approach, ensuring that rates remain competitive and that businesses have the certainty they need to plan ahead.”
More: Nigel Farage Calls for Immediate Deportation of ‘Dangerous Militant’ Who Crossed Channel
More: Keir Starmer Accused of Bowing to Trump in “Humiliating” US Trip for Support
Dee Corsi, chair of High Streets UK, highlighted the broader role of flagship high streets as both economic and social keystones. “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,” Corsi explained. She also noted the ripple effect on smaller businesses: “Within a high street ecosystem, it is often the larger retail, leisure, and hospitality units which drive footfall and spend in smaller neighboring businesses. If you put these larger stores at risk, the impact will be felt across the entire high street.”
High Streets UK’s call to action is a plea for governmental foresight to ensure that city centers remain vibrant, competitive, and resilient. This pushback from high street businesses underscores the delicate balance needed in policy-making to support the vital urban economies without stifling them under financial pressures.
