M&S believes a new online tax would 'punish' the very retailers it plans to support.
Marks & Spencer has written to the chancellor warning that an online sales tax would damage the High Street.The Treasury said the proceeds would go towards funding a reduction in business rates for shops.
He said an additional tax burden would make it harder for them to invest in what is needed to survive and grow in the modern, digital era."Introducing an additional tax on retail - already overburdened - will simply mean retailers cut their cloth accordingly," he said. They want a complete overhaul of the system, which they say is no longer fit for purpose, threatening the economic viability of shops.
Some of Britain's biggest retailers, including Tesco, Sainsbury's, Gregg's and Morrisons, recently joined forces to launch a "Cut the Shops Tax Campaign" urging the government to reduce business rates to help mitigate rising costs and keep shops open. They also said they'd be "open" to an online sales tax if it funded a reduction in rates to help create more of a level playing field.
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