Chancellor
This coverage examines how the Chancellor of the Exchequer’s policies and fiscal decisions influence the UK retail industry. Retail Sector reports on Budget announcements, tax reforms, business rates, wage policies, and economic measures that affect retailers’ operating costs, investment strategies, and consumer spending power. Coverage includes expert analysis, industry reactions, and commentary on how government policy impacts supply chains, employment, and the broader retail economy. For retail professionals, this category delivers essential insight into the financial and regulatory environment shaping strategic planning and performance across the sector.
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Mar- 2019 -12 MarchGovernment
Digital Services Tax extended to include 2% ‘Amazon tax’
High streets government minister, Jake Berry, has promised to extend the Digital Services Tax to include a “2% tax on online retail” to save Britain’s high streets. Berry confirmed that the tax, announced at last October’s Autumn Budget, would be extended to online retailers saying if the government cannot secure…
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Jan- 2019 -28 JanuaryEconomy
Online retail tax could be unlawful under EU rules, Treasury warns
The government has said taxing online giants, like Amazon, through a sales tax could be illegal under EU rules. Under European Union State aid rules it is illegal for EU countries to give financial advantage to some companies and not others in a way which could distort fair competition. The…
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Dec- 2018 -10 DecemberClothing & Shoes
Mike Ashley’s Flannels given £125k rates relief despite £65m turnover
Mike Ashley’s high end fashion chain Flannels has been handed £125,000 in business rates “help” by a local council amid fears that a former pub and nightclub it bought back in 2016 would be left derelict. Doncaster Council agreed the funding to Flannels’ over a “derelict” site at Priory Walk,…
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5 DecemberGovernment
Government clarifies details of new business rates relief
The Ministry of Housing, Communities and Local Government (MHCLG) has published guidance on the details of how business rates discounts first announced in this year’s Budget will be allocated. During the Budget on 29 October, chancellor Philip Hammond announced that businesses with a rateable value of under £51,000 would receive…
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Nov- 2018 -30 NovemberEconomy
Consumer confidence drops marking ‘season of uncertainty’
Market research firm GfK’s latest Consumer Confidence Index has shown that confidence decreased by three points in November 2018 to -13. There were declines recorded across all five measures used to calculate the Index including general economic situation and personal financial situation. The index measuring changes in personal finances during…
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19 NovemberComment
Digital taxation, and what it means for small retailers
The chancellor’s Budget announcements will have certainly set a few pulses racing in the independent retail sector, for several reasons. Among the measures likely to have piqued the interests of British retailers were a property rates reduction for small businesses, a £675m ‘future high street’ investment plan, and a proposal…
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13 NovemberGovernment
EU rules could ‘thwart’ Hammond’s business rates promise
Hammond’s plan to help high streets through a near £1bn, two year business rates cut, is set to be thwarted by European Union state aid rules, real estate agents Altus Group have claimed. The chancellor will slash business rates next April by discounting bills by a third for those retail…
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12 NovemberClothing & Shoes
All Saints sees profits fall by over half
Clothing retailer All Saints has seen its profits fall by over half to £10.6m in the year to February 2018. Sales rose by 8% to £327m during the same period, falling short of the £500m target owners Lion Capital had set. The investment firm bought a majority stake in All…
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8 NovemberSupermarkets
Britain’s first ‘plastic-free’ supermarket begins transition
Britain’s first “plastic-free” supermarket in London’s Belsize Park has began its transition, changing more than 1,700 products over to non-plastic packaging. Thornton Budgens has promised to be “virtually plastic-free” within three years, in a “public experiment” supported by local celebrities Jim Broadbent and Janet Suzman. The move follows a Dutch…
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7 NovemberComment
Digital-first retailers cannot overlook payments
Despite the retail industry being worth £366bn to the UK in 2017, the traditional high street has struggled this year. Chancellor Philip Hammond announced a financial package that includes £900m in business rates relief for nearly 500,000 small businesses, and a pot of £650m to rejuvenate high streets. But in…
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