The Association of Convenience Stores, a trade association of over 33,500 shops representing an industry worth over £37bn to the economy, has called for the following measures to make the business rates system fairer ahead of the Chancellor’s Autumn Statement today:

• Legislating to introduce a permanent 2% cap on annual increases in business rates and freeze rates for small businesses for at least two years.
• Allow more businesses to qualify for the small business rate by increasing the threshold for qualification from £18,000 to £50,000 rateable value.
• Increase the frequency of revaluations undertaken by the Valuation Office Agency to at least once every three years
• Promote a greater use of discretionary rate relief in supporting high streets.

ACS Chief Executive James Lowman said: “It is time for Government to accept that it cannot increase the revenue it takes from businesses through property tax year after year without choking off the investment we need in our high streets, parades and other local centres.  Only a fundamental change in approach will work. In our submission to the Treasury we have set out immediate practical steps to cement the positive short term measures already taken to reduce the burden of rates on retailers.”

ACS’ proposals have received the backing of All Party Parliamentary Small Shops Group chairman Simon Danczuk, who said: “Cancelling a much needed revaluation has ensured that throughout this parliament many businesses have had to trade in difficult conditions while being burdened by unfair business rates that bear no relation to property values. This tax is holding back the recovery and stifling entrepreneurialism and it desperately needs reform. Whenever we debate the future of Britain’s high streets, business rates remain the elephant in the room. I hope the Chancellor will act accordingly and make reforming this tax a priority in his Autumn Statement.”