Former Sainsbury’s chief executive Justin King has said business rates for retailers should be halved and VAT increased to 22% in a bid to save the flagging high street.
King told the BBC’s Today programme that these measures would help level the taxation playing field for bricks-and-mortar retailers battling pureplay competition.
“The services that those business rates pay for are used by online retailers. They drive on the roads that are maintained by them, the brown cardboard boxes they deliver are collected by dustmen or taken to tips paid for by those business rates.”
The former grocery chief executive claimed his proposed measures would ease the burden on retailers, without increasing prices for consumers at the tills.
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