The British Retail Consortium (BRC) has welcomed the news of a full business rates review along with an extension of a 2% cap on rates for next year as set out in the Chancellor’s autumn statement. The announcement also included an extension on small business rates for the next year, Employers’ National Insurance Contributions for Young Apprentices and voluntary regulation.

Helen Dickinson, BRC Director General said "We very much welcome the commitment to undertake a comprehensive review of the business rates system. We want a system that brings investment and jobs to the high street without punishing retailers who trade online. The retail industry is the largest rates payer, contributing over a quarter of the total rates tax take. Today's short term support package will be of enormous help to those struggling to keep their businesses open on the high street.

Commenting on both voluntary schemes and employers NICs Ms Dickinson said: "We are delighted that the Chancellor recognises that voluntary schemes have room for improvement and agrees with our proposals to take a more careful approach so that customers and companies all benefit from well thought-out and properly-costed schemes."

"The retail industry employs an estimated 100,000 apprentices and any support for increasing the number of young people able to get a head start working in our world-beating industry is to be warmly welcomed. The BRC congratulates the Chancellor on his recognition that apprenticeships are a great way to get young people into work. By eliminating Employers NI contributions for young apprentices the Chancellor has made it much easier for businesses to take on an apprentice and give them the skills they'll need to succeed".