Superdry boss’s fury at Sunak for failing to reform business rates

Superdry’s boss has lashed out at the Chancellor for failing to reform business rates.

Julian Dunkerton said he was ‘disappointed’ by the move and warned that uncertainty over rates ‘will stop me investing’.

Rishi Sunak extended the business rates holiday for shops and other High Street firms for a year in a £6.8billion tax break in the Budget.

Investing fears:  Superdry boss Julian Dunkerton (pictured with wife Jade Holland Cooper) said he was ‘disappointed’ by the Budget’s failure to address business rates

The relief was due to end this month but firms will instead not pay any business rates for another three months and then two-thirds of the bill from July to April 2022. 

But hopes of a full-scale overhaul of the business rates system were dashed.

Dunkerton, 56, founder of Superdry, said: ‘I’m very disappointed the rates issue hasn’t been resolved. 

‘It will stop me investing in the High Street. 

‘I need a long-term solution to allow us to renew leases, open new stores and really invest again, and it sadly is not going to deliver that.’