B&Q owner Kingfisher urges Reeves to rethink tax rises for retailers

Kingfisher runs DIY stores across Europe, including the B&Q and Screwfix chains. Photograph: John Sibley/Reuters

The owner of B&Q has called on Rachel Reeves to reconsider planned tax increases for retailers before Wednesday’s spring statement, saying the industry is just as innovative on AI and robotics as US technology firms which could be handed tax cuts.

On the eve of the chancellor’s statement to parliament, Kingfisher, the owner of the DIY chain, said Reeves should reform the business rates system.