Sajid Javid
This coverage analyses Sajid Javid’s influence on UK retail policy across his various governmental roles, including Chancellor of the Exchequer, Home Secretary, and Secretary of State for Business. Reporting includes his stances on business rates reform, post-Brexit regulatory alignment, and immigration policies affecting the retail workforce. Insights also cover his involvement in initiatives related to public health and community cohesion, providing valuable information for retail executives, policy analysts, and industry stakeholders navigating the evolving regulatory landscape.
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Aug- 2022 -5 AugustEconomy
Tax cuts won’t solve economic crisis, says Next CEO
Simon Wolfson, the chief executive of fashion retailer Next, has claimed that inflationary pressures can only be tackled by increasing the supply of goods and workers as tax cuts will not solve the challenges facing the British economy, according to The Telegraph. The Telegraph reported that Wolfson also predicted that…
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Feb- 2020 -18 FebruaryAdvice
HSBC to cut 35,000 jobs, new chancellor sticks to schedule, Bezos creates $10bn ‘Earth fund’
HSBC has announced plans to cut 35,000 jobs over the next three years after a dire set of financial results. Profits have fallen by 33% year on year and that is before the impact of the coronavirus can even be fully measured in Q1 and the months to come. The…
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14 FebruaryAnalysis
German stagnation, Javid out, RBS gets environmental, Norton no-show
The German economy has stagnated due to significant falls in spending and exports. New figures show that GDP ‘flat lined’ (financial jargon for neither growing nor contracting) in the final quarter of 2019, bad news since economists and analysts had hoped that it would grow about 0.1%. It means Germany’s…
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14 FebruaryHigh Street
Frasers Group backs BRC’s calls for government review of business taxes
Frasers Group has backed the campaign by the British Retail Consortium (BRC) and 52 other retailers calling for the government to take urgent action on business rates. In a letter to now former chancellor Sajid Javid, which was signed by retailers including Debenhams, Harrods, John Lewis, Marks and Spencer, Primark…
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11 FebruaryAnalysis
Yes, the trade barriers are coming
I think both Leavers and Remainers probably expected this in the long run – Michael Gove announced yesterday that businesses should “accept” that frictionless trade with the EU will be impossible whatever agreement is finally reached by the deadline of 31 December this year. This is the cost, he says,…
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Jan- 2020 -22 JanuaryAnalysis
Ted Baker hanging by a thread amid £58m balance sheet black hole
If you have shares in Ted Baker, you are probably not having a good morning. The price has tanked by almost 7% after news broke that the fashion brand has found a £58m black hole in its accounts. There’s being a few hundred thousand or a few million short, but…
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14 JanuaryAnalysis
Javid mulls three-year passenger duty holiday for Flybe
Things are not looking rosy for low-cost airline, Flybe, but the chancellor Sajid Javid may have some proposals that save it from complete collapse. It is reported this morning that he is considering cutting air passenger duty on all domestic flights – a big boon for all the other airlines…
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Oct- 2019 -16 OctoberEconomy
Retail sector could face £137m rates hike next year
September’s headline rate of inflation is set to cause more business rates increases in 2020, according to calculations from real estate advisers Altus Group. The firm said the 1.7% uprating for inflation will add an additional £536m to the overall gross business rates burden. As a result, the “embattled” retail…
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Sep- 2019 -23 SeptemberHigh Street
Bailiffs visit 310 premises a day over business rates, study finds
Councils across England are sending bailiffs to 310 companies a day over business rates arrears, new figures show. The investigation by the real estate adviser Altus Group revealed that, during the last financial year, for 2018/19, over 78,000 non-domestic properties from shops to restaurants to pubs to factories to offices…
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2 SeptemberGovernment
Retail business rates could rise by £169m over the next 12 months
Retailers could see a £169m increase in business rates next year, prompting renewed calls for the government to overhaul the system. Calculations by real estate advisors Altus Group found gross business rates bills (including non-retail) for the financial year 2020/21 would increase by £662.15m in England, if the headline rate…
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