UK shops slash prices as coronavirus causes sales to plummet

It is by no means clear exactly how shops will react to the end of lockdown.

Earlier, Primark told its customers that on reopening they should not expect major price cuts; while the general view is that shoppers will be lured back to the high street by a wave of discounting designed to compete with online competitors.

Commercial Property Advisors (CPA), specialists in business rates reductions, has consistently argued that recovery in offline trading will depend 100% on a radical New Deal, no less imaginative than that which dragged the US out of the recession of the Thirties.

Key to the New Deal would be a national injection of cash into revamping stores, by competition for funds deriving from the recent digital sales tax, and adjudicated by the British Retail Consortium and local Chambers of Commerce. Grants would be accompanied by a "kite-mark" of quality reminiscent of the famous Blue Plaques.

The revenue from the digital tax must not be lost to the general funds of the Treasury, says CPA, and if the proposed "High Street Taskforce" is to mean anything, it must control the disbursement of monies specifically aimed at high street re-generation.

4 views0 comments

Recent Posts

See All

Government offers new grants to survive lockdown

We constantly monitor the situation on your business rates to gain savings whenever we can. As you may know, to support businesses through this lockdown, chancellor Rishi Sunak has announced £4.6bn of

Contact Us

Bristol Office

5A4.2 Hamilton House

80 Stokes Croft


BS1 3QY 

0117 325 1520

Registered Number 10080078

  • Black Twitter Icon
  • Black Instagram Icon
  • Black Google Places Icon