Government
This coverage examines government actions, policies, and regulations affecting the UK retail industry. Reporting highlights legislation, consultations, economic measures, and public statements with direct implications for retail operations, employment, taxation, and consumer behaviour. Tailored for executives and managers, it offers analysis to support strategic planning and compliance in a changing regulatory and economic environment.
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May- 2020 -12 MayCoronavirus
Chancellor extends furlough scheme until October
Chancellor of the Exchequer Rishi Sunak has extended the Government’s furlough scheme until the end of October. Announcing the decision in the house of commons today (12 May) Sunak revealed that “no changes whatsoever” will be made to the current scheme until the end of July. However he noted that…
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12 MayEconomy
Chancellor expected to extend furlough scheme to September
Chancellor of the Exchequer Rishi Sunak is expected to extend the Government’s coronavirus furlough scheme to September, but reduce the amount people can claim to 60% of their earnings. According to Sky News, the move aims to prevent some 1.2 million redundancies, and comes after Sunak promised there would not…
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11 MayCoronavirus
Retail industry responds to PM’s conditional plan to ease lockdown
The retail industry has reacted to the prime minister’s announcement last night that outlined a ‘conditional’ to ease lockdown with stores possibly reopening sometime in June. Last night (10 May), Boris Johnson gave a prospective outline for a series of phased store reopenings next month if certain conditions of a…
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6 MayOnline & Digital
Card Factory online sales soar over 250% amid UK lockdown
Cards and gifts retailer Card Factory has reported a 267.5% increase in online sales since the UK lock-down began in March. During the period the retailer said it recorded “significant growth” in visitors, conversion and sales. In response to this increased demand, and to support social distancing, the company has…
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5 MayCoronavirus
Furlough errors could cost small firms
SMEs are making errors on their applications for the Government’s furlough scheme, meaning they will have to repay thousands of pounds back to HMRC later, accountancy firm UHY Hacker Young has said. The firm explained it has seen many small business applications for the furlough grant that includes the cost…
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5 MayCoronavirus
Chancellor promises no ‘cliff-edge’ end to furlough scheme
Chancellor Rishi Sunak has promised there will not be a “cliff-edge” end to the Government’s furlough scheme. Speaking to ITV News, Sunak attempted to reassure a number of business groups who warned of the potential of mass redundancies if the scheme was to suddenly end and not be extended in…
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5 MayHigh Street
Government launches £6.1m fund to help high streets through pandemic
Business Improvement Districts (BIDs) are set to receive a £6.1m funding boost to help high streets and town centres through the Covid-19 pandemic. According to high streets minister Simon Clarke, hundreds of local business partnerships across England will share the fund to spend on projects that will help their local…
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4 MayCoronavirus
Government announces new £617m scheme for SMEs in shared office spaces
The Business Rates loophole which meant small businesses in shared office space missed out on a £10,000 cash grant has been plugged with a new £617m funding scheme. The Department for Business, Energy, Innovation & Skills (BEIS) confirmed the new £617m scheme to support businesses in shared spaces, regular market…
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1 MayCoronavirus
Iceland boss hits back at HMRC over minimum wage probe
The boss of Iceland has hit back at HMRC for “harassing” the business in regards to a previous minimum wage tax dispute amid the ongoing coronavirus pandemic. According to the Times, Sir Malcom Walker, who founded the businesses over 50 years ago, said in a letter that HMRC should be…
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1 MayEconomy
Quarter of retail SMEs will need up to two years to recover
Nearly a quarter (22%) of SMEs in the retail sector believe it will take up to two years to recoup the financial losses caused by Covid-19, according to research from law firm Buckworths. The firm surveyed over 500 UK SME owners and decision-makers to gauge attitudes towards the Government’s response…
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