One-off tax urged to boost commerce

Press Association
Mary Portas
Mary Portas

A one-off tax should be imposed on major retail chains and leisure groups to fund regeneration of the high street, a review will suggest this week.

Making companies with a UK turnover of more than £10 million in 2014 pay a 0.25% levy would create a fighting fund of £550 million to sponsor start-ups and other high street ventures, according to former Iceland and Wickes chief executive Bill Grimsey