The British Retail Consortium (BRC) has called for an end to business rates saying they should be replaced by taxes focused on energy usage.
The move would be ‘revenue neutral’ according to the BRC’s Road to Reform document. It would motivate companies to cut down on fuel usage by investing in more energy efficient technologies and buildings.
The idea is published in the BRC’s ‘The Road to Reform‘ which it describes as ‘a range of ground breaking ideas for the complete reform of the UK business rates system. These innovative options could ensure that customers continue to benefit from competition, provide positive incentives for retailers to invest in property, support the regeneration of the high street and create more jobs to add to the three million people already employed in the industry.’
Further analysis on the benefits are being carried out by Ernst and Young on behalf of the BRC.