UK's Reeves commercial property tax reform raises rates for high value properties, OBR says

LONDON, Nov 26 (Reuters) - Changes to Britain's commercial property taxes will see increased rates for high value properties, according to a report by the country's budget watchdog published on Wednesday ahead of finance minister Rachel Reeves' budget statement.

The Office for Budget Responsibility (OBR) said changes "will reduce rates for retail, hospitality and leisure properties, and increase rates for high value properties."

Britain's major supermarket groups, including industry leader Tesco and number-two player Sainsbury's , had urged the government not to include their large high value retail premises in the top band of commercial property taxes, or business rates, arguing the move would add to high food inflation. (Reporting by Andy Bruce; writing by James Davey; editing by Sarah Young)

Tesco

Sainsbury's