BRC flags huge cost of coronavirus lockdowns to UK retailers
The three UK coronavirus lockdowns have cost non-food store-based retailers over £22 billion in lost sales, according to the BRC.
Furthermore, tighter restrictions in the run up to Christmas hampered retailers’ ability to generate much needed turnover, which would have helped power their recovery in 2021.
On 3rd March, the Chancellor will unveil the Budget for 2021.
The BRC believes action on rates, rents and grants is crucial to the recovery of non-essential retailers and the wider economy, preventing the further loss of thousands of jobs.
Helen Dickinson, Chief Executive at the BRC, says: “After 2020 proved to be the worst year on record, it is essential that the Chancellor uses the Spring budget to support those businesses hardest hit by the pandemic.”
“Vital support in the form of an extension to the business rates relief and moratorium on debt enforcement, as well as removing state aid caps on Covid business grants, would relieve struggling businesses of bills they cannot currently pay and allow them to trade their way to recovery.”
She concludes: “Tackling the challenge of rates, rents and grants should be the government’s immediate priority to ensuring the survival and revival of non-essential retailers and protecting the jobs of hundreds of thousands of retail workers across the country.”
“The investment we provide to retailers now, will be repaid many times over through more jobs and greater tax revenues in the future."
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