Make business rates fairer, HMV boss urges Chancellor

HMV has urged Rachel Reeves to reform business rates in November’s Budget to make them fairer for retailers.

- By Jon Robinson

Managing director Phil Halliday claimed firms such as his are “unfairly taxed versus other sectors” and business rates have “been a contributory factor to lots of retailers leaving” parts of the UK.

HMV suspended plans to open further stores this year after the Chancellor hiked employers’ national insurance contributions by 1.2%, lowered its starting point from £9,100 to £5,000 and increased the minimum wage for over-21s by 6.7%.