The high street is collapsing. Here’s how to save it
The article argues that high streets are declining due to unfair tax systems and proposes reforms to support pubs, restaurants, and small businesses.Summary
This article highlights the decline of high streets in the UK, characterized by closures of pubs and local businesses replaced by shops like vape stores, alongside issues of litter and decay. The author, Guy Stenhouse, contends that government policies, both UK and Scottish, exacerbate the problem through taxation that disproportionately impacts hospitality and small traders. He criticizes the current tax system for failing to adapt to the rise of online retail and suggests a package of reforms, including reducing VAT on pub and restaurant food, increasing the Employers National Insurance allowance, and replacing commercial rates with a delivery tax. Stenhouse emphasizes the social importance of high streets beyond economics and urges governments to take decisive action to revitalize them, arguing that viable solutions exist at little to no cost. Guy Stenhouse is a Managing Director of Noble Grossart, an independent merchant bank based in Edinburgh.
(Source：The Herald)
