THE Tory government’s “levelling-up” plan for high streets falls far short of what is needed, shopworkers’ union Usdaw said today.

Unveiled by the Prime Minister on Thursday, the plan failed to deliver urgent measures that were needed even before the Covid-19 pandemic, the union said.

Its caution came as a report by former Wickes and Iceland boss Bill Grimsey revealed that independent retailers’ debt mountain had grown fourfold in the last year.

Usdaw general secretary Paddy Lillis expressed fears that ministers were “merely managing the decline of high streets” rather than tackling structural issues.

“We of course welcome investment in high streets, but it is not enough on its own,” Mr Lillis said.

“With over 180,000 jobs lost across the industry last year and 200,000 predicted for this year, we needed to hear from the government immediate action to reduce rents and rates for high-street retailers, alongside levelling the playing field with an online sales tax.

“The coronavirus pandemic has pushed many retailers and retail workers to breaking point, so we needed government action to be equally significant.

“Retailers need urgent measures to deal with the immediate crisis and a longer-term strategy to deal with some of the more fundamental structural issues facing the industry.”

The union called for a full extension of the business rates holiday until the end of the financial year, as has already taken place in the devolved nations, as well as fundamental reform of the “outdated and imbalanced” system.

Usdaw also pointed out that an online sales tax of 1 per cent would raise around £1.5 billion, which is enough to fund a cut in business rates of around 20 per cent.

Mr Grimsey’s report, Against all the Odds, pointed to the quadrupling of independent retailers’ debt, from £483 million before the pandemic to £1.7bn today.

“Our high street independents have experienced a new-found appreciation during lockdown,” he said.

“But they’ve also been forced to take on government-backed loans which they would not have normally been able to get because their balance sheets wouldn’t allow it.

“Now they are struggling to manage a mountain of debt and need help.”

The government said it has provided “an extensive and generous package of support.”