Published: 14th Jan 2021

A Conservative MP has called for the current business rate system to be scrapped in order to create a ‘level playing field’ between online and high street retailers. Thirsk and Malton MP Kevin Hollinrake introduced a Ten-Minute Rule Bill earlier this week in the House of Commons, which would replace the current system with a 3p increase in VAT. According to Mr Hollinrake, the move could ‘help save hundreds of thousands of businesses and jobs impacted by the slump in sales because of the health crisis’. ‘Business rates were designed for a bygone era when business went hand in hand with high street premises but the way we shop is now changing for ever,’ said the MP. ‘Since the pandemic and because we have spent long periods in lockdown online sales now account for 33% of all retail sales compared to 20% only a year ago. ‘In my view, the … (To read the full article, subscribe below)