Chancellor

Supply chain issues to last until 2023, APB warns

Supply chain issues could continue into 2023, the chief executive of the Association of British Ports (APB) has warned.  According to the Sunday Times, APB CEO Henrik Pedersen, said he would be “pleasantly surprised” if the supply chain crisis was resolved before the end of next year, citing the fact…

Read More »

Chancellor unveils 50% rates discount for Retail, Hospitality and Leisure

Chancellor Rishi Sunak has unveiled a 50% discount on business rates for the hospitality, retail and leisure sectors (up to £110,000), equating to a business tax cut worth £1.7bn, the biggest single-year rates cut for firms in over 30 years. Unveiling his latest Budget in the Commons today (27 October),…

Read More »

BPF calls for intervention to bring forward £8.5bn high street boost

The British Property Federation (BPF) has called for “immediate intervention” to bring forward an £8.5bn boost for UK high streets if the fundamental reform of business rates is delayed. It revealed that analysis from property advisor Avison Young shows that as a result of the next revaluation the total annual…

Read More »

Over 40 employee groups pen letter urging Sunak to cut business rates

The CBI, along with 41 trade associations spanning the UK economy, have issued a joint statement urging the chancellor Rishi Sunak to reform the business rates system and “unleash a wave of business investment across key government priorities, including net zero and levelling up”. The joint statement from businesses is…

Read More »

PM appoints ex-Tesco CEO Dave Lewis as supply chain adviser

The prime minister has appointed Sir David Lewis, former CEO of Tesco, as the UK Government’s supply chain adviser. The government said Lewis brings with him a “wealth of industry knowledge” and expertise to the new role. He will advise the PM and chancellor of the Duchy of Lancaster on…

Read More »

Contactless limit to hit £100 in October

The Government is set to raise the contactless card spending limit from £45 to £100 from 15 October 2021. Initial plans for the change were first announced in March’s budget announcement, and follow the increase from £30 to its current level at the start of the pandemic. The decision has…

Read More »

John Lewis appoints AlixPartners to conduct supply chain review

John Lewis has reportedly appointed AlixPartners to conduct a strategic review of its supply chain and buying habits.  According to Drapers, the restructuring firm has been instructed to examine its supply chain and its buying practises, including intake margins, in order to see if it can save variable costs.  The…

Read More »

Sunak to reject furlough extension calls despite ‘freedom day’ delay

Chancellor Rishi Sunak is reportedly set to reject calls for an extension of the furlough scheme and business rates report to businesses despite the prime minister announcing a four-week delay to the lifting of restrictions.  According to the Guardian, sources close to the chancellor have said that he believes sufficient…

Read More »

John Lewis chair calls for rates rethink to help ‘level’ up retail

John Lewis chair Sharon White has called for chancellor Rishi Sunak to scrap the business rates system in favour of a new land tax which could help “level up” the playing field when it comes to physical and online retail. Speaking to The Telegraph, White said that reform is needed…

Read More »

UK economy shrinks 1.5% in Q1 despite signs of recovery

The UK economy shrank by 1.5% during the first three months of the year due to the impact of the national lockdown. According to the latest figures by the ONS however, the contraction shows a marked improvement on the first lockdown last year when gross domestic product (GDP) contracted by…

Read More »