Business Rates
This coverage examines business rates policy and its implications for the UK retail sector. Reporting focuses on government decisions, reforms, rate relief measures, and their impact on store operations, profitability, and investment decisions. Tailored for retail executives and managers, it provides analysis to help navigate costs, advocate for change, and plan effectively in response to fiscal pressures.
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Jan- 2024 -30 JanuaryEconomy
Shop price inflation drops to lowest level since 2022
Shop Price annual inflation eased to 2.9% in January, down from 4.3% in December, marking the lowest level since May 2022. It comes as non-food inflation fell to 1.3% in January, down from 3.1% in December. This is below the three-month average rate of 2.4%. Meanwhile, food inflation decelerated to…
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11 JanuarySupermarkets
M&S ‘top performing’ grocer over Christmas period
M&S has revealed that it was the top performing grocer in volume growth terms over the Christmas period and the quarter, as food sales rose 10.5%, with like-for-like sales up 9.9%. According to the retailer, supply chain improvements helped to drive better availability year-on-year in its supermarkets. Clothing and home…
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9 JanuaryHigh Street
Festive period fails to boost retail sales, BRC finds
Total retail sales in the UK rose by only 1.7% in December, against a growth of 6.9% the prior year, as Christmas failed to “make amends” for what was a challenging year in retail. December’s growth was below the three-month average growth of 2.3%, and below the 12-month average growth…
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8 JanuaryEconomy
120,000 retail jobs lost in 2023
Almost 120,000 retail employees lost their jobs in 2023 after more than 10,000 shops shuttered over the year, according to new data from the Centre for Retail Research. It found that during the 2023 calendar year, a total of 119,405 jobs were lost and 10,494 stores were shuttered across the…
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2 JanuaryEconomy
Shop price inflation flatlines in December
The annual shop price rise was slower than the three-month average rate of 4.6% at 4.3%, the lowest since June 2022, according to the BRC’s latest shop price index. The index, which compiled data from the first week of December, showed that non-food price inflation picked up to 3.1% in…
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Dec- 2023 -20 DecemberEconomy
UK inflation falls to two-year low of 3.9%
UK inflation has fallen to 3.9% in the year to November, the lowest level seen in two years, according to new figures from the Office for National Statistics. The rate of inflation was lower than expected after falling from a rate of 4.6% in October, though the ONS said prices…
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15 DecemberNews
Today’s news in brief-15/12/23
Amazon has emerged victorious in a £215m tax dispute with the EU Commission. The European Court of Justice dismissed the Commission’s claims that Amazon had entered into a deal with Luxembourg allowing it to avoid 75% of its EU tax. The court ruled that the Commission failed to prove that…
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15 DecemberHigh Street
Currys boss criticises gov’s minimum wage plans
Currys CEO Alex Baldock has accused the government of not caring about the retail industry after claiming its decision to raise the minimum wage would “load more costs onto an already overburdened sector”. It comes after chancellor Jeremy Hunt outlined plans to raise the legal minimum wage by 10% to…
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8 DecemberAnalysis
What’s in store for retailers in 2024?
The announcement made by Chancellor Jeremy Hunt in the Autumn Budget has unveiled a series of measures aimed at bolstering the UK economy, with the aim to particularly benefit retail. Hunt believes that the reduction in National Insurance, the freezing of business rates, and increments in the National Living Wage…
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4 DecemberHigh Street
Lush CEO blames govt for high street decline
Lush CEO Mark Constantine has attributed the decline of the high street to the Conservative government’s decision to cut council finances, The Times has reported. Constantine told The Times that high streets in Britain are “deserted” due to more local councils being pushed into a state of bankruptcy by a…
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