150,000 jobs at risk without rates reform, warns Co-op

150,000 jobs may be lost without business rates reform in next month's Budget.

- By Jon Robinson

ACTION: Co-op view

THE Coop says 60,000 small shops and 150,000 jobs may be lost without business rates reform in next month's Budget.

The group warned high streets “face a critical moment” and urged Chancellor Rachel Reeves to announce “maximum” business rates relief on November 26.

Ms Reeves is said to be looking at “fixing” cliff-edge business rates, which make small firms pay higher taxes upon opening a second property.

The Government is set to consider moving “slab” rates, where a single multiplier is paid on the full rateable value of properties, to a “slice” system, where bands are taxed at increasing rates.