Budget
Budget jewellery occupies an important place in the UK market, catering to cost-conscious consumers without compromising on style or demand for trend-led pieces. For retailers, wholesalers, and designers, this segment presents unique opportunities and challengesโfrom managing slim margins to sourcing affordable materials and meeting high-volume demands.
Jewellery Focus delivers in-depth coverage of the budget jewellery sector, featuring news on supplier innovations, pricing strategies, consumer buying trends, and regulatory considerations affecting production and imports. Our editorial also explores how brands and independents can balance value with quality to remain competitive in this fast-moving market.
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Oct- 2021 -27 OctoberEconomy
Chancellor unveils 50% rates discount for Retail, Hospitality and Leisureย
Chancellor Rishi Sunak has unveiled a 50% discount on business rates for the hospitality, retail and leisure sectors (up to ยฃ110,000), equating to a business tax cut worth ยฃ1.7bn, the biggest single-year rates cut for firms in over 30 years. Unveiling his latest Budget in the Commons today (27 October),…
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Jul- 2021 -15 JulyManufacturers
Alrosa releases inaugural impact report for 2010s
Alrosa, a global diamond mining company, has released its inaugural impact report, covering the period 2010 to 2020. The report focuses on Alrosaโs Yakutia, Russia region, which is home to 90% of the groupโs operations. According to Alrosa, the firm contributed approximately $22bn (ยฃ15.9bn) to the regionโs local economy over…
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Mar- 2021 -15 MarchRetailers
Shop TJC to increase wages to ยฃ10 an hour
Shop TJC has announced it will increase its wages for all entry level employees from ยฃ8.89 to ยฃ10 an hour which is 12% over the minimum wage prescribed in the recent budget which will come into effect April 2021. The e-retailer which specialises in jewellery, gemstones, and other lifestyle accessories…
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3 MarchCoronavirus
Budget 2021: Chancellor unveils new ยฃ65bn support package
Chancellor Rishi Sunak has outlined a new ยฃ65bn support package in his March budget, confirming the decision to extend the furlough scheme until the end of September as well as new loan schemes of up to ยฃ10m for businesses. In what is Sunakโs second budget since he joined office in…
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1 MarchEconomy
Chancellor to unveil ยฃ5bn high-street support package
Chancellorย Rishi Sunakย is expected to offer over 700,000 retail, hospitality and other businesses grants of up to ยฃ18,000 as part of a ยฃ5bn rescue package to be included in his Budget speech on Wednesday (3 March). The new โRestart Grantsโ will be directly distributed from local authorities from April and will…
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Feb- 2021 -17 FebruaryEconomy
Scotland extends rates holiday for another year
The Scottish government has confirmed that it is extending 100% of its business rates relief for the hospitality, retail, leisure and aviation sectors for another year. Finance secretary Kate Forbes confirmed the extension earlier this week (16 February) in Holyrood, putting pressure on Rishi Sunak to match the extension in…
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Jan- 2021 -19 JanuaryCurrent Affairs
Sunak looks to raise corporation tax in March budget
Chancellorย Rishi Sunakย is reportedly looking to raise corporationย taxย in the upcoming March budget to pay off the estimated ยฃ400bn borrowed by the UK throughout the pandemic. According toย The Financial Times, the alleged move has sparked uproar among business owners who claim they are still struggling with the economic impact ofย Covid-19. However, it…
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6 JanuaryManufacturers
Lucara diamond mine renewal approved
Lucara has announced that the application for the renewal of its Karowe mining licence has been approved for a period of 25 years. The new licence will allow Lucara to continue mining for diamonds until 2046 and marks a โcritical stepโ in the formal sanction of the Karowe underground expansion…
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5 JanuaryCoronavirus
Chancellor unveils ยฃ4.6bn in new lockdown grants
Businesses in the retail, hospitality and leisure sectors are to receive a one-off grant worth up to ยฃ9,000, the chancellor has announced. The news comes after the prime ministerโs announcement that businesses will be closed until at least February half-term in order to help control the spread of Covid-19. This…
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Dec- 2020 -17 DecemberCoronavirus
Furlough scheme extended until April 2021
The furlough scheme has been extended until the end of April 2021 with the government continuing to contribute 80% towards wages to employeeโs pay, Chancellor Rishi Sunak has confirmed today (17 December).ย The government will also extend current government-guaranteed Covid-19 business loan schemes until the end of March.ย This includes…
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