Waterstones boss defends government’s business rates shake-up

James Daunt at a Barnes and Noble store in Manhattan, New York. Photograph: José A Alvarado Jr./The Guardian

The boss of Waterstones has defended the government’s approach to the high street, arguing that controversial changes to business rates were “sensible” and had benefited outlets in struggling areas.

James Daunt said the bookseller’s total business rates bill for this year was going to be similar to last year’s as big increases at large, successful sites such as its flagship on London’s Piccadilly had been offset by “quite significant” decreases at shops in more troubled locations.