This browser is not actively supported anymore. For the best passle experience, we strongly recommend you upgrade your browser.

Insights

The latest news and events at Maples Teesdale

| less than a minute read

Could town centre free-trade zones be the saviour of the high street?

Andy Street (ex-John Lewis boss) calls for more tax on online retailers and suggests revitalising town centres by creating free-trade zones. 

These free-trade zones would have additional policing, enhanced infrastructure and public realm improvements and would grant the local authority powers to reduce business rates and relax planning rules. All of this, Street suggests, could be funded by higher taxes on online businesses. 

Could this be one of the the answers to the challenges business rates, oversupply of space and under investment in the high street pose for "offline" retailers?

“This system is past its sell by date,” Street told MPs on the Treasury select committee. “It was designed in 1990 when businesses made money in a very different way.”

Tags

high street, commercial property, online retail, free-trade, retail, anastasia klein