With the imminent general election next spring, the UK Labour party is committed to a robust crackdown on ‘American candy’ stores dotting British high streets. This strategic move is part of Labour’s broader initiative to rejuvenate high streets, urging the current conservative government to allocate increased resources to this endeavor.
Labour’s multifaceted plan involves close collaboration with councils to enhance the attractiveness of high streets for legitimate businesses. A key aspect is the introduction of a compelling «new shops bonus» for legitimate businesses venturing into new locations on shopping streets, with an initial emphasis on the bustling West End, specifically Oxford Street in London.
Central to the proposal is a three-month business rates ‘holiday’ for companies making a fresh start in new premises during their first year. Funding for this initiative will be redirected from the current allocation to landlords, aiming to mitigate the challenge of vacant properties.
American candy stores, which have surged post-pandemic, especially after major lockdowns, are the primary target of Labour’s initiative. The party addresses the issue of landlords indiscriminately renting spaces, exacerbating the proliferation of these stores.
While London landlord GPE suggests the problem is diminishing due to concentrated development in the West End, reports indicate the existence of over 20 US-themed sweet shops solely on Oxford Street.
The critique of these stores extends to concerns about low-quality design, potentially unsafe products, ambiguous ownership structures evading business taxes, and suspicions of serving as fronts for money laundering.
Labour, in response, emphasizes the necessity for a revamped system, replacing business rates and utilizing powers in the Economic Crime Act to combat exploitative businesses and enforce stringent checks during company setup.
