British high streets ‘have to change’ insists Chancellor ahead of outlining plans to rescue struggling town centres in his Budget
- Rise of online shopping means high streets must adapt, Philip Hammond said
- Love for internet spending means fewer stores and more bars and restaurants
- The Chancellor is set to announce a £650million Future High Streets Fund
Britain’s love for online shopping means high streets will need to become smaller with fewer stores and more bars and restaurants, Philip Hammond said yesterday.
In today’s Budget, the Chancellor is expected to set out a timetable for bringing in a digital tax so internet giants pay their fair share.
He will also announce a £650million Future High Streets Fund that will help town centres adapt, as well as a £900million business rates cut for independent retailers. But Mr Hammond – who admitted being an Amazon shopper – told Sky’s Sophy Ridge on Sunday: ‘The British have taken to online shopping like no other nation on earth. Our high streets have to change.
‘We’ve got to help the high street to evolve and the high street of the future will have fewer retail outlets and more leisure destinations, more food and drink outlets.
‘I expect the high streets of the future will be smaller with more of the areas around them redeveloped as housing.’
In today’s Budget, the Chancellor is expected to set out a timetable for bringing in a digital tax so internet giants pay their fair share
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Britain’s love for online shopping means high streets will need to become smaller with fewer stores and more bars and restaurants, Philip Hammond said yesterday (pictured: High street in Worthing, West Sussex)
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