Relief for retailers as business rate changes in budget not as bad as feared
Retailers have breathed a sigh of relief after changes to their business rates bills in the budget were not as bad as feared, after the industry had warned for months that more punitive measures could lead to shop closures and jobs losses.The chancellor, Rachel Reeves, on Wednesday revealed plans to permanently reduce business rates for retail, hospitality and leisure properties – although the discounts are not as generous as those that have been in place since the pandemic.About 750,000 properties in those sectors will see their bills set below the current standard level, with deeper discounts for smaller operators, according to the government.Businesses are still calculating what their ultimate bills will be, but the global tax firm Ryan calculated that there are 3,480 retail properties in England that have the higher rateable value and together would pay an extra £112m in business rates from April 2026.However, the government is providing billions of pounds of “transitional relief” to help those whose bills will increase dramatically next year.
Jitters over the government’s final decision had led the British Retail Consortium (BRC), which represents most big retailers, to warn in September that a large rise in bills could lead 400 big stores to close and put as many as 100,000 jobs at risk.However, reacting to the budget on Wednesday, the chief executive of Sainsbury’s said “industry concerns have been heard”.“We all want to see inflation and the cost of living come down,” said Simon Roberts.“We welcome the government’s decisions in the budget on business rates, and that industry concerns have been heard.We have been working tirelessly to manage rising costs, and today’s measures mean we can continue tackling inflation and providing great value, quality and service for our customers.
”Those in buildings with a rateable value of more than £500,000 will pay an additional surcharge, although the charge will only be about a quarter of the level originally feared.Many retailers and hospitality businesses will also see the charge offset by deflation in the value of many of their properties, as well as the use of a lower “multiplier” figure which is used to calculate business rates.Analysts at Citi said they had predicted that the business rates changes could cost Sainsbury’s as much as £39m more, and Tesco £100m, but the chancellor’s announcement meant “that headwind is likely to be materially lower than we had expected”.George Weston, the chief executive of Primark owner Associated British Foods, said: “The net impact of the business rates reforms to Primark is positive, but we are disappointed that larger, anchor stores that drive so much activity in high streets and local communities are not exempted from the higher rate for large properties.“We recognise that the government is operating in a difficult environment.
Looking ahead, however, we now need to see more action to raise real living standards, drive growth and to reduce the cost of doing business to encourage companies to invest in the UK.”The BRC chief executive, Helen Dickinson, said it was a “mixed-bag budget” that offered relief for many shops, but brought in new costs for others.“Retailers face a delicate balancing act as they strive to invest, hire, and keep prices affordable.The announced permanent reduction in retail business rates is an important step to reduce the industry’s burden from this broken tax.Yet the decision to include larger retail premises in the new surtax does little to support retail investment and job creation.
”But the business rates changes have stoked frustration beyond the retail industry.Kate Nicholls, the chair of UKHospitality, which represents thousands of restaurants, pubs and cafes, said: “Wage rises, holiday taxes and monumental increases in [property values used to calculate rates] have put even further pressure on hospitality businesses as a result of this budget.”Business lobby group the CBI said the budget overall signalled the government’s growth mission was stalled.Rain Newton-Smith, the CBI chief executive, said: “A scatter-gun approach to tax risks leaving the economy stuck in neutral.”The City welcomed the chancellor’s decision to introduce a three-year stamp duty holiday on the purchase of shares in companies listing in the UK.
Dame Julia Hoggett, chief executive of London Stock Exchange, said the move was “a clear acknowledgment of the vital role equity markets play in driving investment, innovation and job creation.It is also an important first step in removing the distorting effects of this duty, which has historically disincentivised investment in UK companies, especially for retail investors.”
England plan extra training sessions in wake of howling first Ashes Test defeat
A week of inactivity for England’s cricketers will end on Saturday following confirmation of additional training sessions having been scheduled in the wake of their howling eight-wicket defeat to Australia in the first Ashes Test.As reported by the Guardian on Monday, head coach Brendon McCullum has booked extra time in the nets ahead of the day-night second Test that starts in Brisbane on 4 December rather than send any first team players to the two-day England Lions match in Canberra this weekend.The first session takes place at Allan Border Field on Saturday morning, before switching to the facilities at the Gabba from Sunday onwards. Two of the sessions – Monday and Wednesday – will take place after dark so players can get used to seeing the pink Kookaburra ball under lights.It represents a break from England’s usual pattern of training three days before a Test match
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Players warned not to sign IPL-style Hundred deals in standoff with owners
The Professional Cricketers’ Association (PCA) has advised players not to sign Hundred contracts for next season amid a dispute with the new franchise owners over their terms.In a supplementary process to the new Indian Premier League-style auction that will take place next year, Hundred teams are permitted to make four direct signings, including one from their existing squad and three others, either overseas players or a player with an England central contract.The direct-signing window opened last week, but the players’ union is understood to have told its members to hold off signing because of a standoff over the new multiyear contracts.The Guardian has learned that the new franchise owners – four of whom also own Indian Premier League teams – have included a unilateral 12-month release clause in the three-year deals they are offering to direct signings, which the PCA is contesting. Such contracts would offer no security to the players, as well as keeping them on the same salary for three years even if they enjoyed a stellar first season
Wallabies’ 2026 schedule brings hope but also potential for bigger headaches | Angus Fontaine
After losing seven of their last eight Tests in 2025 and completing the first winless tour of Europe since 1958, the Wallabies are back home nursing a giant hangover. Unfortunately, the 2026 season unveiled this week looks likely to prolong the pain.Having watched their team end the year in a blur of yellow cards, wobbly lineouts, aerial ineptitude and headless chook footy, fans will be aghast to find only six of Australia’s 14 Tests will be played at home in 2026 – the first three against nations who defeated them only this month. The new year only brings bigger headaches.The worst of them, like all hangovers, is self-inflicted: an awkward handover of national coaching duties between Joe Schmidt and Les Kiss following home Tests against Ireland in Sydney, France in Brisbane and Italy at a still to be confirmed location, and midway through the inaugural north-south face-off, the Nations Championship
Perth pitch not the problem for England in first Ashes Test as it receives highest ICC rating
England only have themselves to blame for their two-day capitulation in Perth, after the pitch for the first Ashes Test received the top rating possible by the International Cricket Council.The “very good” assessment by the ICC match referee was made on a pitch with “good carry, limited seam movement, and consistent bounce early in the match, allowing for a balanced contest between batters and bowlers”.Australia defeated England in the first Test in Perth by eight wickets in under two days.The tourists were well placed on day two with a lead of more than 100 runs with nine wickets in hand. However, a middle-order collapse ended their innings in fewer than 35 overs, and within hours Travis Head had guided Australia to victory
Tuilagi could face England with Samoa while Marchant return is boon for Borthwick
Manu Tuilagi has refused to rule out playing for Samoa at the 2027 Rugby World Cup, leaving open the possibility of him facing Steve Borthwick’s England in Australia.The 34-year-old, who spearheaded the Red Rose midfield for more than a decade, would qualify for the Pacific Island nation in 2027 under eligibility rules introduced four years ago.Borthwick, who has overseen 11 straight wins, has been boosted by news that Joe Marchant will join Sale from Stade Français next season. The 29-year-old former Harlequin has 26 England caps and has signed a long-term deal from 2026-27 and will now be eligible again for international duty.At the launch of the 2025-26 Champions Cup, Tuilagi was asked about potential involvement in the World Cup after Samoa emerged victorious from the qualifying tournament in Dubai earlier this month
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