UK retailers to Chancellor: fix business rates or stall growth

Core Insights - Independent retailers are urging the Chancellor to restore business confidence amid rising costs and uncertainty, which could slow down economic growth in the UK [1] - A recent survey indicates a pessimistic outlook for 2026, with significant concerns regarding business rates reform [2][3] Group 1: Retailer Sentiment - 46.2% of independent retailers are pessimistic about 2026, with only about 25% confident for the Christmas trading period [2] - Over half of the retailers reported a decline in sales compared to the previous year, and 43.9% experienced weaker trading in Q3 2025 compared to Q2 [2] Group 2: Business Rates Concerns - Business rates reform is identified as the top priority, with the next revaluation in April 2026 expected to increase bills for many firms unless mitigations are introduced [3] - Higher property taxes could exacerbate existing pressures from energy, staffing, and other operational costs, potentially discouraging investment on the high street [3] Group 3: Retailers' Demands - Retailers are seeking measures in the autumn statement to support growth and jobs, including action on business rates, predictable tax policy for SMEs, and easing regulatory burdens [5] - Low confidence for 2026 has led to a pullback in investment plans, with only 25.5% of members expressing optimism for the upcoming year [5] Group 4: Clarity on Costs - Calls for clarity focus on the business rates system and the overall cost structure facing small businesses, which are constraining margins and hindering expansion [6]