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flag Proposed UK business rate hikes could force 400 store closures and 100,000 job losses, the BRC warns.

flag Proposed business rate changes targeting large UK retail properties could lead to closures of around 400 stores and up to 100,000 job losses, according to the British Retail Consortium. flag Stores in Swindon like Amazon, Aldi, and Nationwide face higher taxes under a new band for properties valued over £500,000, despite retail contributing only 5% to the economy while paying over 20% of business rates. flag The BRC warns the tax could harm smaller businesses reliant on foot traffic and urges the chancellor to exclude large shops, suggesting office buildings as an alternative revenue source. flag Meanwhile, Morrisons in Swindon faces rising costs and inflation, cutting prices on 650 items and seeking to surrender a long-term lease on an empty store to avoid ongoing rent. flag The Treasury is reviewing business rates ahead of the autumn budget.

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