I'm thrilled to see that Dave Lewis CEO of Tesco is in agreement with me.
I recently posted an article entitled "More Misery for High Street?" where I concluded that central government needed to facilitate a level playing field between high street and online retailers. Such a plan may include attacking online retailers' margins to force them to increase their prices so they are unable to undercut high street retailers, increasing business rates for on-line distribution centres or increasing the delivery costs of goods to peoples homes.
In an interview with the Daily Mail, Dave Lewis commented that business rates were devised prior to the world of internet sales having been envisaged. "Internet giants" should, therefore, pay a new sales tax as business rates are pushing high straight retailers to breaking point.
The question is, will Government implement such a radical policy or at least attack "internet giants" aggressive tax avoidance schemes?
‘Billions of pounds have shifted online, but the rates system was never devised to account for this. Because the bill is linked to property – not profit – shops struggling to keep the doors open have to pay up, while larger online businesses pay just a fraction,’