More help on the horizon?

We’re keeping our fingers crossed that more financial support may be on the way for retailers

Published 2nd February 2021

We’re keeping our fingers crossed that more financial support may be on the way for retailers hit hard by the Covid-19 pandemic.

Business Secretary Kwasi Kwarteng recently announced his plans to work with Chancellor Rishi Sunak in an effort to provide further help, after nationwide pleas to extend the business rates holiday.

As you may know, retailers have not had to pay rates for the current financial year after the government introduced a payment ‘holiday’ until March. However, that holiday is due to end in March, and it’s not yet known whether that will be the case.

A whole host of MPs from different parties have also raised their concerns over the financial hardships retailers and businesses across the UK are faced with, consequently putting further pressure on Chancellor Sunak.

The government has signalled that further support for occupiers of commercial property like shops, pubs and restaurants is coming. As the business rates holiday in England is currently due to end on March 31, we’re hoping it will become clear very soon!

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