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Tesco statement on business rates relief

Following the Chancellor's announcement that the Government will continue to provide eligible retail, hospitality and leisure properties in England with business rates relief until 30 June 2021, we are confirming our intention to forgo the relief.

We announced our decision to return rates relief for last year in December, because we felt it was the right thing to do, and we were financially strong enough to be able to return it.

Those same reasons still stand today and so we will not take advantage of the relief.

Whilst we support retailers availing of this relief where it’s needed, this is a short term remedy; the real issue is the absolute need for reform of the rates system and we hope that this is something the government will move on this year.

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