Chancellor

Can VAT help save the High Street?

There are growing calls for an ‘online sales tax’ (OST) to redress the balance between physical and digital retailing but a fiscal solution may have to be more intricate – and how VAT is levied may be part of the answer. We’re all familiar with being asked in sandwich bars…

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Retail footfall down 0.8%, shopping centres continue to suffer

Retail footfall fell by 0.8% in July when compared to the same time last year, despite the high street again seeing a slight rise. The figures from the British Retail Consortium (BRC) and Springboard show that high street footfall increased by 0.3% which was the third consecutive month of growth.…

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UK Treasury rejects retailers’ business rates reform calls

The UK Treasury has today rejected calls from retailers who say business rates should be reformed to create a level playing field with online retailers. During a meeting of parliament’s Treasury Select Committee, chancellor Philip Hammond said reforming international corporation tax was a higher priority for the government, adding that…

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Estate agents join high street casualties as insolvencies rise

Around 153 estate agents have gone insolvent in the last year, up from 148 the year before, according to a new report. Accountancy firm Moore Stephens found that as the online estate agency market continues to grow, firms such as Hatched, Rightmove, Yopa and Zoopla have squeezed high street rivals.…

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Amazon to create 2,500 UK jobs

Online retail giant Amazon has announced that it will create 2,500 permanent jobs in the UK in 2018, taking the total UK workforce to 27,500 by the end of the year. The company has said that there are roles available for people with all levels of experience, education and skills,…

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High street collapse down to higher business rates, says Colliers

Fifteen major retailers or restaurant groups have gone into CVA or administration in the twelve months since the April 2017 Business Rates Revaluation, according to Colliers International, the global commercial real estate agency and consultancy. Ten of those have happened since the beginning of this year – in the last…

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Inflation drops for the first time in 6 months

The inflation rate saw a slight dip in December, falling to 3%, according to figures released by the Office of National Statistics (ONS). The level of inflation, according to Consumer Price Index (CPI), was less than November’s rate of 3.1%, which was at its highest for six years. The high…

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Retail associations respond to ‘encouraging’ Autumn Budget

A number of retail associations have responded positively to the Chancellor’s Budget which was revealed yesterday (22 November). The British Retail Consortium (BRC) and NFU Mutual reacted to the announcement that the move from RPI to CPI indexation will be brought forward by two years to 2018, allowing for a…

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Retail bosses call on Chancellor for ‘shoppers’ budget’

Leading CEOs from across British retail are today backing Phillip Hammond, the Chancellor, to deliver a “shoppers’ Budget” including decisive action in his upcoming Budget to relieve the business rates burden. The British Retail Consortium (BRC) says that without action in the Budget on Wednesday (22 Nov), retailers alone face…

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