Tesco has called for a 1% online sales tax to be slapped on digital retail giants such as Amazon ahead of the spring Budget.
It comes as bosses at UK supermarkets, high street chains and retail property owners call on the Chancellor for an overhaul of the current tax system to put them on a “level playing field” with online rivals.
Tesco boss Ken Murphy is among 18 bosses to sign a letter to Rishi Sunak calling for a permanent reduction in business rates in the March 3 Budget.
Retailers, leisure and hospitality firms have not had to pay rates for the current financial year after the Government launched a rates holiday at the onset of the pandemic.
Tesco calls for Amazon and other online sellers to be hit with new tax
Real-world retailers face a huge tax bill from April
Updated
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Two enormous new towers, 34 and 27 storeys high, will appear on the east London skyline after plans to redevelop a shopping centre were approved. Waltham Forest Council’s planning committee approved plans to demolish part of The Mall shopping centre in Walthamstow and build 538 new homes at a meeting last night (January 27). The £200 million redevelopment was first approved in 2017 but, last October, owner Capital & Regional submitted new plans which added 36 more flats but halved the number of blocks. Residents urged the committee to reject the plans, arguing the huge towers posed a fire risk and that the flats were not truly affordable for local people.
Capital & Regional sees return of tenant trading
By Edward West
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CAPE TOWN - CAPITAL & Regional, landlord of seven regional shopping centres in the UK, said yesterday that the end of the second national lockdown in the UK, was encouraging.
The share price shot up 10.43 percent to close at R14.29 on the JSE yesterday following the release of the announcement.
Ninety-eight percent of its units were open, the UK-listed real estate investment group with a secondary JSE listing, said in an update yesterday. Chief executive Lawrence Hutchings said this was even though some form of government restrictions were likely to continue for a period of time.