89% of Retailers Back New Tax to Ease High Street Struggles
- 89% of retailers support online sales tax
- High street retailers face higher business rates than online rivals
- 71% of retailers with online presence, 100% without support the tax
- Click and collect: 54% for tax, 46% against
- Essential items exempt/reduced tax: 71%, small retailers: 66%, web-based apps: 55%, digital products: 52%
- 31% support email sales exemption or reduced tax, 69% against
A recent survey by Colliers revealed overwhelming support from retailers for the introduction of an online sales tax, aiming to level the playing field between high street and online businesses. The consultation on the new tax policy has increased calls for a fairer system that doesn’t penalize brick-and-mortar stores. 89% of respondents were in favor, with retail landlords and investors at 98%. High business rates have contributed to shop failures and high street decline. The survey also showed support from those without an online presence (100%) and those with one (71%). Opinions on click and collect tax varied: 54% for, 46% against. Essential items, small retailers, web-based apps, and digital products were discussed as potential exemptions or reduced tax brackets.
Factuality Level: 8
Factuality Justification: The article provides accurate information from a recent survey conducted by Colliers on retailers’ opinions about introducing an online sales tax. It presents relevant data and statistics, and quotes from John Webber, head of business rates at Colliers, to support the main topic. The article is focused on the subject without any unnecessary digressions or personal opinions presented as facts.
Noise Level: 3
Noise Justification: The article provides relevant information about retailers’ opinions on online sales tax and offers some insights into their preferences regarding exemptions. However, it lacks in-depth analysis or exploration of the broader implications of such a policy change.
Financial Relevance: Yes
Financial Markets Impacted: Retailers, investors, and high street businesses
Financial Rating Justification: The article discusses the support for an online sales tax among retailers to address the issue of business rates and its impact on financial markets and companies in the retail sector.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no extreme event mentioned in the article.
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