Business Rates change

High street - business rates

In an effort to try and re-generate town centres the Chancellor, George Osborne, has given control over the setting of business rates to local councils.

In Mr Osborne’s eyes, this new level of autonomy will give local council the opportunity to set there own rates (cutting or increasing) and therefore encourage re-generation in there own towns and cities.

Rates are calculated by multiplying the rental value of a property by either the standard rate (49.5p) or the lower rate (48p), before subtracting any rate relief.

As usual with big announcements to come out of Government, opinion is polarized.

The British Retail Consortium (BRC) feels that 80,000 more shops shall be closed within 2 years due to this “Tax on jobs and growth’.

This is based on the expiring business leases and businesses choosing not to re-new them. Which raises an interesting point.

There is no doubt that business rates are a burden for retailers. However, I believe this is only part of the picture. Landlords also play their part in the high street’s decline.

Investor Landlords obviously want top-dollar for their property investment and when the time comes to re-new leases it is argued that the price is too high.
2015 is a potent year for renewals. According to real estate analysis firm MSCI – approximately 43% of shopping centres leases and 37% of high street tenancies are due to expire by the end of 2015.

Some large retailer, Homebase and B&Q and the Arcadia group have already seen this as an opportunity not to re-new.

I do hope this is an opportunity for struggling independent retailers to re-negotiate a better deal, rather than seeing, as we have before landlords preferring to see an empty store than accept a realistic offer.

Let us know your view

Poor old dads

Father's day card displaysAs a parent you are not allowed to have a favourite child. All children are treated equally and love is given accordingly.

However, it would appear that the same cannot be said for our darling little bundles of joy. They do have a favourite and they are shopping with their feet.

It would seem that mothers come our top in our children’s spending habits. Whether it’s treats, mother’s day or birthdays daughters and sons will spend more over the lifetime of the parents on mum.

It’s no surprise that Birthday’s and Christmas come out top in our spending with mum getting almost double the amount spent on him.

The survey conducted by Quidco found that daughters will spend around £7,100 on mum, compared with £3,259.10 on their fathers.

As if it wasn’t bad enough another revealing statistic was that 85% per cent of daughters said they were closer to their mum.

What’s more sons will forget Dad’s special days more frequently that daughters – 30% admitted to forgetting a special occasion.

How much do daughters spend on Mum

Daughter - mum

How much do daughters spend on Dad 

Daughter dad