A leading retail association representing thousands of independent businesses across the UK has outlined its key priorities ahead of the Chancellor's Spring budget statement.
Andrew Goodacre, CEO of the British Independent Retailers Association (Bira), is calling on Chancellor Rachel Reeves to address three crucial areas to support independent retailers and revitalise high streets across the UK.
Goodacre said, "While we understand this Spring statement may not introduce major tax changes, we believe there are vital areas where the Government must demonstrate its commitment to the future of British high streets."
For the upcoming Spring budget on March 26, Goodacre has outlined three key priorities.
He said: "We need to see continued investment for town centres and high streets across the country to maintain momentum in regeneration efforts.
"The Government must also ensure that policing is fully funded to properly address retail crime, which has become increasingly concerning for our members.
"Additionally, we're calling for economic development to become a statutory requirement for local authorities, creating consistency in how high streets are supported nationwide."
Goodacre added, "Independent retailers form the backbone of our high streets and local economies.
"With the challenges facing the retail sector, including the aftermath of the pandemic and current economic pressures, it's essential that the Government prioritises support for our members."
Bira, which works with 6,000 independent retailers across Britain. It also includes members of Retra, the specialist trade association for independent electrical retailers and servicing organisations, and the ACT (Association of Cycle Traders).
Goodacre's appeal comes days after it emerged in a report that retailers across the nation’s flagship high streets are facing rising costs while many are considering reviewing their investment strategies while some are potentially facing permanent closure.
According to fresh analysis from pro-growth group High Streets UK, rising operational costs is the most pressing issue businesses are facing.
The survey revealed that the majority of businesses set to be impacted by the new higher multiplier (69 per cent) will seek to manage costs by reviewing staffing requirements – threatening up to 5,500 jobs in these locations.
64 per cent of those impacted businesses will consider passing on the additional costs to consumers, with analysis suggesting that prices would need to rise by around 3 per cent to offset the increased tax burden.
A third of affected businesses are considering reviewing their investment strategies in the UK (34 per cent) or closing certain locations (31 per cent) as a result.
This could put up to 600 trading units at risk, with over 200 potentially facing permanent closure.
