The membership organisation for landlords and retailers has called on the government to cap future business rates multipliers at 30% from the 2023 revaluation, a “drastic” move Revo said would save high street businesses £3bn a year. 

Business rates currently multiply by 51% at revaluation, and Revo said capping the increase would create more of a “level playing field” for bricks-and-mortar businesses versus pureplay retailers. 

In a nod to its struggling landlord members, Revo also called for the freeze on business rates to be extended to empty retail properties and for a 50% relief to be introduced for all retail properties next year, “to prevent a cliff-edge in April 2021” when current measures expire.