Chief Executive Calls On Chancellor To Freeze Business Rates

The call to freeze business rates as Argos reports a second rise in forecast profits since January.

The Chief Executive of the Home Retail Group, Terry Duddy has called on Chancellor George Osborne to freeze business rates in the new budget which is due to be announced Wednesday 20 March 2013. Terry told the Daily Mirror, “That’s just the start. You have to look at the wider issue of taxation.”

The comments come as Home retail Group increased its fill-year prfit forecast, and is now expecting to £90million after huge sales boosts at Argos. The high street chain rose 5.2% in the past eight week, with some of th profit increase being credited to the increase sales on tablets.

However sales for its DIY-focused sister chain Homebase decreased by 1.5%, but the Home Retail group remain optimistic, with this figure increasing from a previous 3.2% fall for the overall second half of the year.

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