The FWD has written to Chancellor Rachel Reeves urging action on the Government’s proposed business rate reforms, with a number of senior wholesale chief executives putting their names to the letter.
It explains that 80% of wholesalers will be hit hardest under the proposed higher multiplier, with rates having already risen 25–30% in three years, with another 20% increase on the horizon.
Read more: FWD calls for Chancellor to not unfairly punish wholesale sector
Furthermore, it goes into detail how some members face costs of up to £2m, forcing them to consider job cuts, paused recruitment and stalled investment.
“Wholesalers are not online retail giants; they are critical national infrastructure, supplying schools, hospitals, care homes, prisons, hospitality, and independent shops. Our sector supports 1.5 million jobs and contributes £57 billion to the UK economy,” says the FWD.
“We fully support the mission to grow the economy, but these changes risk undermining the very businesses that keep food and drink moving across the country.We will continue to represent the voice of wholesale food and drink companies at the highest level, making sure our sector is heard loud and clear.”
