Business
Statement Regarding Business Rates
Statement Regarding Business Rates.
About this update from Frasers Group Plc
[{"type":"text","content":"\n \nRNS Number : 9865C Frasers Group PLC 14 February 2020 \n\nDate: 14 February 2020\n \nFrasers Group Plc\n(\"Frasers Group\" or the \"Company\")\n \nSTATEMENT REGARDING BUSINESS RATES\n \nFrasers Group plc, one of the biggest employers on the UK High Street, has backed the campaign by the British Retail Consortium and 52 other chains calling for the Government to take urgent action on Business Rates.\n \nWith the UK High Street on life support, the time for reform has long since passed. Transitional relief in particular is disastrous for a great many retailers and needs to be significantly modified to at least ensure the correct amount of rates are paid by the end of transitional relief periods. The current system whereby downward transitions of just a few percent a year means that the correct amount is never reached or even close to, punishes those in greatest need of relief.\n \nWithin the Frasers Group itself we have some stores paying up to four times the rates bills they should be. This kind of pattern clearly cannot be right and is no doubt repeated widely across UK Retail; it is a significant contributor to the dire straits the High Street currently finds itself in.\n \n \nEnds.\n \n\n\n\nFrasers Group plc\nTom Piper, Company Secretary\n \n \n\n\n \nT. 0344 245 9200\nE. [email protected]\n\n\n\n\n\n\n\n\n\n\n\n \n\nThis information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com. END NRAUOAORRBUUAUR\n ","length":3368,"tagName":"div"}]