{
  "id": 15700508,
  "title": "New West End Company CEO: Healey’s Budget must give High Streets room to grow",
  "url": "https://urgent.news/2026/10/20/new-west-end-company-ceo-healeys-budget-must-give-high-streets-room",
  "topic": "business",
  "section": "Business",
  "published": "2026-10-20T04:48:00.000Z",
  "source": {
    "name": "City AM",
    "slug": "city-am",
    "url": "https://www.cityam.com/new-west-end-company-ceo-healeys-budget-must-give-high-streets-room-to-grow/"
  },
  "original_language": "en",
  "account": "The West End of London, a thriving hub for commerce and tourism, employs over 350,000 individuals and draws visitors from around the globe. However, rising costs are threatening its economic stability. Dee Corsi, CEO of the New West End Company, stresses that the upcoming Autumn Budget must provide relief to high streets to ensure continued growth. Since April 1st, the higher business rates multiplier has been in effect, causing an average increase of £183,000 per property for the 335 stores in the West End exceeding the £500,000 rateable value threshold. Despite previous reliefs, many businesses still face a 20% rise in their bills. The total cost for the retail sector now exceeds £2.3 billion annually, factoring in increased employer national insurance contributions, higher National Living Wage, and new Employment Rights Act obligations. Retailers and property owners have unanimously expressed concern over the current rates environment, with 75% indicating business rates as their biggest challenge. They argue that the existing system, particularly the slab-based multiplier, creates arbitrary limits that hinder growth. Corsi calls for the freeze of the higher multiplier in the short term and a shift from a slab-based to a slice-based multiplier system in the medium term. Additionally, she advocates for a longer-term review of the three-year business rates review cycle to give businesses certainty for long-term planning.",
  "summary": "The West End supports more than 350,000 jobs, attracts visitors from across the world and generates significant economic activity and tax revenue for the wider UK. If the cost of operating here continues to rise, the consequences will be felt well beyond London, says Dee Corsi Two years of Autumn Budgets have heaped costs on [...]",
  "key_points": [
    "Dee Corsi, CEO of New West End Company, demands budget relief for high streets.",
    "Higher business rates multiplier since April 1st caused £183k average increase per property.",
    "Corsi suggests freezing higher multiplier temporarily and switching to slice-based system."
  ],
  "editors_take": "Pressure from rising business rates and employment costs forces West End leaders to demand structural tax reforms to prevent escalating overheads from stifling the economic stability of London's retail sector.",
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "City AM",
        "title": "West End boss urges Healey to curb ‘eye-watering’ business rates",
        "url": "https://urgent.news/2026/10/20/west-end-boss-urges-healey-to-curb-eye-watering-business-rates",
        "published": "2026-10-20T03:31:00.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}