Economy

Starbucks pays up but business rates will still rise

George Osborne’s Autumn Statement dealt another blow to retailers and small businesses as he overlooked pleas to freeze business rates, despite much lobbying on the issue.

Recouping some of the losses from Starbucks over the next two years, which could amount to £20 million according to the coffee giant’s UK managing director Kris Engskov, should cheer up some smaller retailers hit by rising costs, but it will make no difference to plans for business rates in 2013.

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