Colliers urges support for retail sector in face of Omicron

By

Nigel TAYLOR

Published
Dec 17, 2021

Commercial property giant Colliers is leading urgent calls for government financial support for retailers who now fear the rocketing numbers of Omicron cases are set to hit their businesses in the run up to Christmas and beyond.

Colliers says the government must step in to financially support the sector, “which is only just getting off its knees following the extremely difficult 18 months since Covid-19 first struck,” says John Webber, head of Business Rates at the firm. 

“The industry was only just starting to recover and now it’s being hit for six again. The chancellor needs to come out of the shadows and announce some key reliefs and he needs to do it now.”

He added: “Although we are not yet in an official Lockdown such as we saw at the beginning of the year, we might as well be for the impact the government’s public health messaging is having on public behaviour.

Colliers noted that this time last year, businesses in this sector were receiving subsidies via the furlough scheme, a 100% business rates relief on the properties they occupied and were in receipt of substantial government grants. 

“Now with the furlough scheme ended and the sector only receiving a capped two thirds discount to their business rates bills, financial support is much more sketchy. The £2 million-cap on rates relief per business that came in after June has meant relief is very limited for the larger chains — the ones responsible for the bulk of employment in the sector.”

Webber added: “It is ironic that on the day the Act of Parliament outlawing rating appeals became law, the government through its announcements has damaged businesses in cities throughout the country who rely on visitors – this includes not only restaurants/bars and retail but also serviced offices.”