J Sainsbury plc (LON:SBRY) noted yesterday’s statement from the Chancellor of the Exchequer, in which it was stated that the government will be “giving all retail, hospitality and leisure businesses in England a 100% business rates holiday for the next 12 months”. We welcome the support for these businesses and we are awaiting further clarification on the details of this change.
J Sainsbury paid UK business rates of £567m in the financial year to 9 March 2019, of which c.£500m related to stores.
