Lush business rates fury

LUSH has hit out at crippling business rates after it suffered a plunge in profits.

Profits at the High Street beauty chain, which is famous for its bath bombs and natural cosmetics, fell by two-thirds to £23.4m in the year to June 30.

The company criticised business rates for contributing to its troubles after it shelled out £5.9m on the taxes last year. It said cuts to corporation tax have made little difference because so few firms are making a profit.

A Lush spokesman said: ‘Whilst the Government celebrates having reduced corporation tax rates, there are few profitable retail businesses left. The burden of these costs means few will benefit from this.’