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New figures from the Office for National Statistics show that inflation fell 0.1% in August, to 6.7%.
Our response
Our Chief Executive Kate Nicholls said: “Inflation slowing at a glacial rate will leave hospitality businesses incredibly concerned ahead of next month’s crucial figures, which determine the annual rise in business rates.
“In the current economic climate, rates rising with inflation, coupled with reliefs ending, would be catastrophic for businesses.
It is unthinkable for the Government to press ahead with its current plans, which will mean an almost billion-pound bill for the sector.
“A commitment from the Government to freeze the business rates multiplier and commit to an extension of business rates relief is needed as soon as possible.
“In the short-term, implementing Ofgem’s recommendations for action in the business energy market would see energy bills fall and help rapidly cut inflation.”
