Budget
This coverage examines the UK government’s seasonal budget announcements and their implications for the retail sector. Reporting focuses on tax changes, business rates, employment policies, and economic forecasts that directly affect retailers, brand managers, and executives. With analysis tailored to commercial strategy, the insights help professionals assess how fiscal policy shapes retail operations, profitability, and investment decisions.
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Sep- 2020 -24 SeptemberCoronavirus
Chancellor set to unveil furlough replacement after Budget cancellation
Chancellor Rishi Sunak has cancelled this year’s Budget but is set to unveil new measures aimed at protecting employment and the UK economy in parliament later today (24 September). It is thought the new measures will replace the current furlough scheme, which is set to expire at the end of…
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Jul- 2020 -1 JulyNews
B&M reports ‘strong’ performance as revenue rises over 25%
Budget retailer B&M has reported a “strong” start to the financial year as it saw a 27.7% increase in group revenues to over £1.1bn during the period from 29 March 2020 to 27 June 2020. B&M said the strong start to the new financial year can be attributed to its…
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Jun- 2020 -22 JuneCoronavirus
Chancellor mulls VAT cut and could follow up with autumn tax rises
Chancellor Rishi Sunak is reportedly considering cutting VAT in order to help stimulate the economy but could follow the move up with a set of Autumn tax rises. According to the Financial Times, Sunak is planning deferred tax rises and cuts to public spending in his autumn Budget as a follow up to further stimulus…
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May- 2020 -21 MayHigh Street
Retailers set to receive £430m worth of tax rebates
The Supreme Court has handed the embattled retail sector a £430m tax lifeline by upholding an earlier decision that cash machines are exempt from business rates. The Court of Appeal ruled in November 2018 that cash machines within existing properties – whether internal or external facing – should not be…
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12 MayCoronavirus
Chancellor extends furlough scheme until October
Chancellor of the Exchequer Rishi Sunak has extended the Government’s furlough scheme until the end of October. Announcing the decision in the house of commons today (12 May) Sunak revealed that “no changes whatsoever” will be made to the current scheme until the end of July. However he noted that…
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12 MayEconomy
Chancellor expected to extend furlough scheme to September
Chancellor of the Exchequer Rishi Sunak is expected to extend the Government’s coronavirus furlough scheme to September, but reduce the amount people can claim to 60% of their earnings. According to Sky News, the move aims to prevent some 1.2 million redundancies, and comes after Sunak promised there would not…
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5 MayCoronavirus
Chancellor promises no ‘cliff-edge’ end to furlough scheme
Chancellor Rishi Sunak has promised there will not be a “cliff-edge” end to the Government’s furlough scheme. Speaking to ITV News, Sunak attempted to reassure a number of business groups who warned of the potential of mass redundancies if the scheme was to suddenly end and not be extended in…
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Apr- 2020 -16 AprilCoronavirus
Government extends lockdown for ‘at least’ three more weeks
The government has announced an extension to the coronavirus lockdown for “at least” a further three weeks. The decision was announced at today’s (16 April) press briefing which was led by foreign secretary Dominic Raab. It also comes after Raab led an emergency Cobra committee and cabinet meetings about the…
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15 AprilCoronavirus
Covid-19 could cause UK economy to shrink by 35%, says OBR
The UK’s economy could shrink by as much as 35% in the second quarter of 2020 due to the Covid-19 pandemic, the Office for Budget Responsibility (OBR) has said. The watchdog is also predicting a 13% drop in annual GDP as a result of the outbreak, which it said would…
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3 AprilCoronavirus
Chancellor unveils new measures to SME loan scheme
Chancellor of the exchequer Rishi Sunak has unveiled a major overhaul to his previously announced SME loan scheme. Initially, the Coronavirus Business Interruption Loan Scheme (CBILS) was aimed at businesses unable to secure regular commercial financing as the virus took its toll on the UK’s economy. However, according to Sky…
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