Sean Prigmore, National Head of Retail Agency at Lambert Smith Hampton (LSH) said: “We welcome the findings of the Grimsey Review and agree with a number of the recommendations, but the review could go further in addressing the uneven playing field online retailing has created between high street retailers and global internet traders.
Impact of business taxation on British high streets
“What the Grimsey Review fails to address is the impact business taxation has had on British high streets. The introduction of a sales tax for online retailing could help address the imbalance between the high-street and internet shopping, and the funds generated could be ring-fenced and invested back into town centres in need of regeneration.”
Online sales tax could address imbalance
The decision to delay the revaluation of business rates has only further damaged the retailers struggling the most. We support the Grimsey Review’s recommendation to immediately reintroduce the 2015 business rates revaluation, which will go some way towards making high street retail more viable.
Immediately reintroduce the 2015 business rates revaluation
Sean concluded, “The Grimsey Review might make difficult reading for some, but the problem of declining town centres and unhappy communities needs a tough solution. The Portas Pilots were successful in putting town centres and high streets on the agenda, but we must take the next step and rethink the strategy to bring back life to once thriving areas."