The Co-op, one of the UK’s largest and most well-known retailers, has issued a warning that 60,000 small shops and 150,000 jobs are at risk if the government does not take urgent action to reform business rates. This dire prediction comes as new research shows that most Britons doubt that the government will step in to save struggling high streets.

The Co-op’s warning is a wake-up call to the government, urging them to take immediate action to address the pressing issue of business rates. This is not just a matter of financial stability for small businesses, but also a matter of preserving the heart and soul of our local communities.

According to the Co-op’s research, 70% of Britons doubt that the government will take any meaningful action to save struggling high streets. This is a worrying statistic, as it reflects a lack of confidence in the government’s ability to support small businesses and protect the vitality of our local communities.

Business rates, also known as non-domestic rates, are taxes that businesses must pay on their commercial properties. They are a significant financial burden for small businesses, especially those operating in high street locations. The current system of business rates is outdated and unfair, with many small businesses struggling to keep up with the rising costs.

The Co-op’s Chief Executive, Steve Murrells, has called on the government to deliver urgent business rates reform to prevent the closure of 60,000 small shops and the loss of 150,000 jobs. He has also highlighted the need for a fairer system that takes into account the challenges faced by small businesses, such as online competition and changing consumer habits.

The impact of the pandemic has only exacerbated the already dire situation for small businesses. Many have been forced to close their doors permanently, while others are barely hanging on. The Co-op’s warning serves as a reminder that the survival of these small businesses is crucial not only for the economy but also for the social fabric of our communities.

Small businesses are the lifeblood of our high streets, providing essential goods and services, creating jobs, and contributing to the local economy. They also play a vital role in fostering a sense of community and belonging. Without them, our high streets would lose their unique character and become soulless and generic.

The Co-op’s call for urgent business rates reform is not just about saving small businesses, but also about preserving the vibrancy and diversity of our high streets. The government must take action now to ensure that our high streets continue to thrive and remain at the heart of our communities.

The Co-op’s warning has been echoed by other industry leaders, who have also called for immediate action to address the issue of business rates. The British Retail Consortium has urged the government to provide targeted relief for the hardest-hit businesses, while the Federation of Small Businesses has called for a complete overhaul of the business rates system.

The government has acknowledged the need for business rates reform and has promised to conduct a review of the system. However, this review has been repeatedly delayed, and small businesses cannot afford to wait any longer. The Co-op’s warning is a clear message to the government that urgent action is needed to prevent the closure of thousands of small shops and the loss of hundreds of thousands of jobs.

In conclusion, the Co-op’s warning serves as a stark reminder of the urgent need for business rates reform. The government must take decisive action to support small businesses and protect the vitality of our high streets. Failure to do so could have devastating consequences for our local communities and the economy as a whole. Let us hope that the government heeds this warning and takes the necessary steps to save our high streets and the small businesses that make them so special.