Chancellor

Sainsbury’s boss criticises speed of Labour tax changes

Sainsbury’s CEO, Simon Roberts, has told the Telegraph that the chancellor gave businesses no time to plan for her £25bn tax changes. He said that the decision to increase employer National Insurance from April was “not something anyone expected – certainly, it wasn’t expected at the speed it was coming…

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Today’s news in brief-10/1/25

Shein is reportedly planning a London IPO by mid-2025, with Easter 20 April as a possible completion date if regulatory approval is secured. Rachel Reeves, UK Shadow Chancellor, is visiting China for economic talks, accompanied by Britain’s Financial Conduct Authority head, potentially advancing Shein’s IPO progress. Meanwhile, scrutiny from MPs…

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Seasalt Cornwall sales jump by 10% over Xmas season

Seasalt Cornwall has reported that total sales rose by 10% across its website, physical stores, marketplace partners and wholesale channels during the five-week period to 28 December 2024 compared with the same period last year.  According to the clothing retailer, every one of its trading channels has set new records…

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Morrisons CEO urges gov to rethink budget costs

Morrisons’ CEO has called on the government to stagger its “avalanche” of business costs following the latest budget.Speaking to The Sun, Rami Baitieh urged Labour to consider the costs of National Insurance changes, business rates rises and the increase in minimum wage. He told the paper that National Insurance changes…

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Today’s news in brief-4/12/24

Evri has partnered with the GMB Union to secure an industry-first pay deal that guarantees self-employed couriers insurance-backed paid sick leave. Supported by over 80% of voters, the agreement also includes festive support payments of up to £950 and subsidized insurance for death, disability, accidents, and sickness. This builds on…

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Chancellor admits NI rise won’t be ‘easy’ for businesses

Chancellor Rachel Reeves has admitted that it will not be “easy” for businesses to “absorb” the rise in employers’ national insurance contributions. The change, which was announced in the autumn budget, will see employers’ NI contributions rise to 15% from April 2025.  Speaking at The Yorkshire Post’s Great Northern Conference…

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Consumer confidence remains weak as Christmas approaches

Consumer confidence remains weak in the run up to Christmas, according to the the British Retail Consortium (BRC)-Opinium Consumer Sentiment Monitor. It comes as the survey found that consumer’s expectations for their personal financial situation improved slightly to -3 in November, up from -4 in October. Meanwhile, their expectations for…

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John Lewis ‘worried’ about increase in National Minimum Wage

John Lewis has told the Telegraph that it is “worried” about the impact of Rachel Reeve’s decision to increase the National Minimum Wage.  As part of the budget, the chancellor confirmed that the National Minimum Wage for 18 to 20-year-olds will rise 16.8% from £8.60 to £10, while pay for…

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Retailers warn National Insurance increase could cause job losses

A number of large retailers have warned that the National Insurance increase could cause inflation and job losses, in a letter sent to chancellor Rachel Reeves. Over 70 businesses including Tesco, Sainsbury’s, Next, Amazon, and Boots have written to Reeves, in a letter organised by the British Retail Consortium. The…

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BRC warns chancellor Budget could cause inflation and job losses

The British Retail Consortium (BRC) has warned that the latest budget could cause inflation and job losses, in a draft letter seen by Sky News. In the draft, the BRC estimated that the National Insurance changes would increase retailers’ tax burden by £2.3bn annually. It also argued that the number…

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