Following Chancellor Rachel Reeve's announcements today (26 March), read our Chief Executive Dee Corsi’s full statement in reaction to the measures below.
New West End Company's Chief Executive Dee Corsi Reacts to Spring Statement
Dee Corsi, Chief Executive, New West End Company, said: “Today’s Spring Statement underscores the harsh reality; that the UK’s economic outlook remains challenging and the support many businesses urgently need is still missing.
"While we welcome Government action to support growth through initiatives like the recent Planning and Infrastructure Bill, for businesses on flagship high streets like those we represent in the West End, there’s an urgent need for more holistic policies to reduce the burdens they face.
"Key to this is the looming hike in business rates, which is a major barrier to the government’s growth agenda, threatening to hit retail, hospitality, and leisure businesses hardest, with potentially devastating consequences. Just as important is the continued absence of tax-free shopping, which cost West End businesses £640m last year, hampering the UK’s global competitiveness and stalling any growth potential.
We urge the Government to reconsider their proposed reforms to protect businesses on flagship UK high streets, attract inward investment, and support national and local growth.”
