Latest news with #retailreform
CNA
a day ago
- Business
- CNA
Small businesses group calls for retail lease reforms amid soaring rent
The Singapore Tenants United for Fairness, which represents more than 700 business owners, businesses, is calling for retail lease reforms, such as rental caps and limits on foreign-owned shops. It is already in talks with Enterprise Singapore and hopes to reach some agreement in the coming months. Retail rents jumped 1.9% islandwide in the first quarter of the year, according to the Urban Redevelopment Authority. In that time, an average of 450 retail stores have shuttered monthly. Kate Low reports.
Daily Mail
25-05-2025
- Business
- Daily Mail
Frasers boss calls for 'bold' reforms to save ailing High Street
Frasers Group's boss has called for 'bold' business rates reform to save the 'dying' High Street. Michael Murray called on the Government to slash the levy, which is paid based on the value of a commercial property. 'Town centres are dying, the system is broken and physical retail is being priced out of high streets,' Murray said. 'Retailers need radical reform, not more red tape.' The Government must seize a 'golden chance' to 'give retailers a reason to return to town centres' by easing the burden, he added. Bricks-and-mortar retailers claim they suffer an unfair business rates burden compared with online giants such as Amazon. But many warn Labour's plan to address the issue – by hitting larger commercial properties with higher taxes – will backfire. Tesco, Sainsbury's and the Co-op, as well as Frasers, have said this risks large retailers abandoning shops.
