Rate of UK shop closures expected to rise after budget tax changes report

The UK’s high streets are expected to empty out at a faster pace this year as extra costs imposed on businesses by Rachel Reeves are blamed for shops closing and a slowdown in chain store openings. The rate of store closures is forecast to rise again as a result of the chancellor’s tax-raising budget last October, after a slowdown to 10 a day last year from 13 a day in 2023, according to research. Overall, the picture for the UK’s under-pressure high streets improved slightly in 2024 despite significant numbers of high-profile banks and retail chain stores shutting. Net closures

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