The chief executive of Sainsbury’s, Mike Coupe, is the latest in a long line of high prominent business leaders to call on the government to restructure business rates amid concerns that planned hikes could lead to the closure of High Street stores.
Having described the existing property valuations system as “archaic”, Coupe wants to see “fundamental reforms” introduced that factor in the growing impact that online retail companies are having on the market.
His comments come after business groups - including the British Retail Consortium and the CBI - signed a letter on Friday urging the government to drop April’s revaluation plans in England.
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