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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Nov- 2018 -2 NovemberHigh Street
RSPH names Grimsby as ‘unhealthiest UK high street’
The Royal Society for Public Health (RSPH) has named Grimsby, North East Lincolnshire, as the ‘unhealthiest UK high street’. The announcement came after a league table published by the group ranked 70 of Britain’s major towns and cities by the impact of their high streets on the public’s health and…
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Oct- 2018 -29 OctoberGovernment
Autumn Budget 2018: Business rates cut for SMEs and new digital services tax
Chancellor Philip Hammond has confirmed plans to give smaller retailers a 33% cut to business rates and introduced a new digital services tax for companies with at least £500m in global revenue. The reduction in rates will take place over the next two years and is expected to save businesses…
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29 OctoberGovernment
Chancellor to propose £900m rates relief plan for smaller retailers
Chancellor Philip Hammond is expected to announce a rates relief for retail SMEs and relax town planning rules on the high street. The budget announcement will be made today (29 October) and Hammond is expected to cut business rates by 33% for 496,000 small retailers, saving £900m. It is also…
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23 OctoberGovernment
New West End Company issues ‘stark’ warning to government over tax-free shopping
The New West End Company (NWEC) has issued a “stark” warning to the government over tax-free shopping in a joint letter to chancellor Philip Hammond, signed by over 300 West End retailers. In the letter, the trade body warned that the UK risked a further loss of international competitiveness post-Brexit…
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18 OctoberEconomy
Retail sector ‘to face £186.45m business rates increase next April’
Retail firms will see business rates increase by £186.45 next April for the year 2019/20, according to real estate advisor Altus Group. September’s Consumer Prices Index (CPI) measure of inflation, announced on 17 October at 2.4% will determine business rate rises in England for the next year. It is its…
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1 OctoberGovernment
New West End Company calls for £5bn business rate reduction
The New West End Company, which represents retailers in London’s West End has called for a £5bn reduction in business rates, financed by a 1% tax on online retailers. This week’s Conservative Party conference has seen representatives of the organisation lobbying for the reduction. Businesses across the West End will…
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1 OctoberHigh Street
Business rates could be changed to help retailers, says Greg Clark
Secretary of state for business Greg Clark has admitted that business rates could be changed in order to help high street retailers. Clark told a fringe event at the Conservative party conference that a change in business rates would be “one way” of recognising the role that high street retailers…
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Sep- 2018 -14 SeptemberDepartment Stores
John Lewis Oxford Street flagship sees business rates rise 57% in a year
John Lewis’ flagship on Oxford Street, London is expected to see its business rates tax rise from £12.68m to £19.91m up 57% compared with last year’s revaluation. According to real estate advisor, Altus Group, the Oxford Street store alone will pay £41.04m in business rates over the four years of…
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Aug- 2018 -31 AugustComment
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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13 AugustHigh Street
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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