There is a week to go until the Chancellor reveals the Budget on March 20 and time is running out for retailers lobbying Government to freeze business rates in April.

There is a week to go until the Chancellor reveals the Budget on March 20 and time is running out for retailers lobbying Government to freeze business rates in April.

Retailers will be straining to hear whether the Chancellor has heard their pleas to freeze business rates.

If not, they will hope their argument will have been evidenced by the growing gaps on the UK’s high streets as retailers continue to link increasing business rates with rising vacancy rates.

A sample of data compiled by footfall monitoring service Springboard using figures regarding rateable values from the Valuation Office Agency showed that regions in England outside of London and the South East with the highest rateable values also had the highest vacancy rates in October to January.

These include Yorkshire and the North East which had a 13.7% vacancy rate and a £202.10 rateable value per square metre, the West Midlands with a 12.2% vacancy rate and a £167.95 rateable value and the East Midlands with a 12.1% vacancy rate and a £168.89 rateable value.

Springboard research director Diane Wehrl admits other factors such as high rental rates and landlords unwilling to negotiate on leases may be factors in the high rateable values.

“It’s a snapshot and would need further investigation but it demonstrates there is a real relationship between the factors,” she says.

But it is represents further evidence that increasing business rates will continue to stifle retail growth and undermine the revival the Government wishes to see though the Portas Pilots.

Retail Week and the British Retail Consortium have been working tirelessly through the Fair Rates for Retail campaign to lobby Government to give retailers a chance to invest and grow their businesses by halting the proposed 2.6% rates increase in April. This is estimated to add £175m to retailers’ rates bill. If you are yet to lend your support, you can sign a petition or write to your local MP on the links below.

George Osborne failed to mention business rates in his Autumn Statement. Let’s hope the Chancellor fills the gaps in his Budget speech and his high streets next week.