Jeremy Hunt delivers ‘110 measures’ for growth

The country’s biggest retailers, offices and factories will collectively see their annual business rates bill increase by about £1.66bn as a result of the Autumn Statement, according to real estate intelligence firm Altus Group

Helen Dickinson, chief executive of the British Retail Consortium, which represents the sector, said retailers that provide “the lion’s share of employment, investment, and low-cost essentials for customers” will suffer the most after the chancellor prioritized tax reliefs and benefits for smaller companies.

Alex Baldock, chief executive of electronics retailer Currys, called the decision “unfair”.

“If the government is serious about supporting businesses of all sizes, promoting growth and reducing costs for consumers, it must urgently address our outdated and unfair business rates system,” he said.