Major Yorkshire-based businesses are among more than 50 big retailers which have come together to demand the Government takes action to fix the “broken” business rates system.

In a letter to the new Chancellor, Sajid Javid, retailers called on the Government to put business rates at the heart of the promised new economic package. The letter, coordinated by the British Retail Consortium, (BRC) has been signed by major stores including the CEOs of supermarkets, food-to-go, fashion, homeware, and department store retailers.

Yorkshire-headquartered companies among the signatories include Asda, Card Factory, Wm Morrison Supermarkets, Costcutter and DFS.

Retail remains the largest private sector employer in the UK, employing approximately three million people.

The letter to the Government asks for four fixes that would address challenges posed by business rates: A freeze in the business rates multiplier; Fixing transitional relief, which currently forces many retailers to pay more than they should; Introducing an ‘Improvement Relief’ for ratepayers; Ensuring that the Valuation Office Agency is fully resourced to do its job.

The letter notes implementation of these recommendations, “could be undertaken quickly, would reduce regional disparities, remove barriers to the proper working of market forces, incentivise economic investment, and cut away at least some of the bureaucracy of the current system.”

Helen Dickinson, Chief Executive of the BRC, said: “These four fixes would be an important step to reform the broken business rates system which holds back investment, threatens jobs and harms our high streets. The new Government has an opportunity to unlock the full potential of retail in the UK, and the Prime Minister’s economic package provides a means to do so.

“The fact that over fifty retail CEOs have come together on this issue should send a powerful message to Government. Retail accounts for 5% of the economy yet pays 25% of all business rates – this disparity is damaging our high streets and harming the communities they support.”

The letter comes the day after BRC-Springboard data showed the UK Vacancy figures had risen to 10.3%, the highest since January 2015. It also comes shortly after the BRC-KPMG Retail Sales Monitor showed the 12-month average sales figures dropped to their lowest level on record, at 0.5%.

James Lowman, Chief Executive of the Association of Convenience Stores, said: “Retailers investing in their businesses need support and incentives, not to be hit with increased business rates bills.

“The business rates system needs fundamental change to address this perverse incentive. There is much more the Government can do now to help small businesses, and their first priority should be extending rate relief for more businesses and for beyond the next financial year.”