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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Nov- 2019 -15 NovemberAnalysis
Is Boris sticking two fingers up at the Treasury Select Committee on Business Rates?
The worst fears from those who have read and welcomed the recent Treasury Select Committee report into business rates- that the next Government could well ignore them,- seem to be borne out by the latest Conservative party announcements on the “broken” business rates issue. Announcements last night from the Conservatives…
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15 NovemberEconomy
Boris Johnson pledges to invest in ‘left behind’ communities if Tories win
The Conservative party has proposed to reduce business rates for smaller businesses, in order to support “left-behind” towns, if they win the general election. The plans would offer support to businesses and the community, to keep the high streets open for business, save pubs and post offices, reconnect towns and…
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12 NovemberGovernment
Government must ‘play its part’ to support retail sector, says BRC
The incoming government must take action to fully support to the retail sector, the BRC has urged in its latest manifesto. The publication, entitled ‘A Vision for the UK Retail Industry’, calls for relief and reform of the industry as it navigates changes driven by new technology and changing consumer…
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11 NovemberHigh Street
Brexit woes and wet weather dampen October footfall
Retail footfall faced further decline in the month of October, according to new figures from the BRC-Springboard Footfall and Vacancies Monitor. Footfall in non-food stores fell -6.2% from October of the previous year, whilst shopper numbers fell significantly by -3.2%. Reduced footfall was felt in all sectors of retail, across…
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Oct- 2019 -31 OctoberEconomy
Treasury Committee urges MPs to reform ‘broken’ business rates
The government has been urged to fix the “broken” business rates system as it is continuing to affect high street retailers, a Treasury committee has said. An influential group of MPs has asked the government to examine alternatives to property tax, which puts more pressure on high street retailers than…
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30 OctoberEconomy
Shop prices decrease again in October
Shop price deflation decelerated to 0.4% in October from -0.6% in September, according to new figures from the British Retail Consortium (BRC). The results are below the 12- and six-month average price changes of 0.2% and -0.2%, respectively. Additionally, non-Food deflation decelerated to 1.5% in October, from -1.7% in September,…
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29 OctoberEconomy
Retailers report ‘record high’ stock levels in October
Retailers’ stock levels in relation to expected sales were at their highest on record in October, according to the latest monthly CBI Distributive Trends Survey. The news comes against the backdrop of a continuing decline in sales on the high street, and the latest spike in stock adequacy (the highest…
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24 OctoberPeople Moves
85,000 retail jobs lost in the last year
Third-quarter retail employment fell by 2.8% year-on-year, the equivalent of around 85,000 jobs, marking the 15th consecutive quarter of decline in the retail workforce. According to the latest figures from the British Retail Consortium (BRC), full-time employment saw a decrease of 4.5% compared to the decrease in part-time employees of…
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23 OctoberHigh Street
UK retailers store profit margins halved since 2011, study finds
A new report by global professional services firm Alvarez and Marsal, in partnership with Retail Economics, has shown that store-based profit margins for the top 150 UK retailers have more than halved in less than a decade, dropping from 8.8% in 2009/10 to 4.1% in 2017/18. “Ballooning” operation costs have…
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21 OctoberHigh Street
Bonmarché enters administration putting 2,900 jobs at risk
Womenswear retailer Bonmarché has entered administration, resulting in around 2,900 jobs being placed at risk including 200 at its head office. With 318 branches located around the UK, Bonmarché appointed FRP Advisory as administrators who said the brand had a “sustained period of challenging trading conditions.” Alastair Massey, Tony Wright…
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