Treasury urged to get on with business rates reform to save retailing | Business

The Treasury is facing a backlash from businesses over a delay to an overhaul of the outdated business rates system that has been blamed for mass shop closures.

Businesses were hopeful that the government’s response to a “fundamental review” of business rates would be announced at the budget on October 27 but Rishi Sunak is now only expected to announce minor changes, a delay first reported by The Daily Telegraph.

Business rates are an additional occupier cost linked to the underlying value of commercial property premises. Present rates are based on property values from April 2015, which do not reflect a sharp decline in the value of high street shops and shopping centres after the rise of online shopping and the impact of the

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