Lutz Schüler, Virgin Media 02’s chief executive, has urged the Treasury to rethink its rates - Simon Dawson/Bloomberg Labour’s plans to overhaul business rates have sparked a backlash from the UK’s largest broadband companies, which say the “eye-watering” costs will harm vital infrastructure investment. Lutz Schüler, the chief executive of Virgin Media O2, said telecom groups building crucial mobile and broadband networks will be unintended victims of the Government’s rates plans, which are intended to s ...

Rachel Reeves, pictured at Glasswater Locks, is expected to implement widespread tax rises in her autumn Budget - Jonathan Brady/Reuters The boss of B&Q owner Kingfisher has warned Rachel Reeves that a looming property tax raid will unfairly impact high street stores. Thierry Garnier, the chief executive of Kingfisher, has hit out at the Chancellor’s planned overhaul of business rates over fears it will benefit online sellers at the expense of larger bricks and mortar retailers. He said that plans to ...