National Minimum Wage

46% of independent retailers report lower Q2 sales, Bira finds

Nearly half (46%) of Britain’s independent retailers reported lower sales in the second quarter of 2025 compared with the same period last year, according to new figures from the British Independent Retailers Association (Bira). The decline was attributed to a squeeze on household budgets and falling consumer confidence as key…

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UK quarterly GDP beats expectations despite slowdown

UK GDP grew 0.3% in the three months to June, behind the 0.7% it grew in the first quarter, as a result of US tariffs and higher business costs, according to data from the Office for National Statistics (ONS). However, it is better than expected growth as economists polled by…

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Budget: Increases to employers’ NI and minimum wage

The Chancellor Rachel Reeves has increased Employers’ National Insurance contributions in a bid to help raise as much as £40bn in taxes, pledging to also boost long-term growth and “mark an end to short term-ism” as part of Labour’s first budget since it came into power. Employers’ National Insurance contributions…

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High street footfall continues to lag behind pre-pandemic levels

Footfall levels remain 23% below pre-pandemic levels in February 2022 as rising costs are reportedly set to “batter” retailers from 1 April, according to RSM. The latest data from Datscha, analysed by RSM, shows the overall decline in footfall is the worst in London with numbers on Oxford Street down…

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Chancellor unveils 50% rates discount for Retail, Hospitality and Leisure 

Chancellor Rishi Sunak has unveiled a 50% discount on business rates for the hospitality, retail and leisure sectors (up to £110,000), equating to a business tax cut worth £1.7bn, 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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The minimum wage increase is about to hit – and it beggars belief

As if to bang the final nail into the coffin himself, we can only assume the Treasury’s top man, chancellor Rishi Sunak, refuses to give ground on the next wave to crash over the retail and hospitality industries. I am talking of course about the increase in the National Minimum…

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What we know about furlough leave and the CJRS

HMRC published details of the Coronavirus Job Retention Scheme (CJRS) on 26.3.20 which are available here: https://www.gov.uk/guidance/claim-for-wage-costs-through-the-coronavirus-job-retention-scheme Key points include: Employees that employers can claim CJRS for For the purposes of CJRS, the definition of employee would include workers and agency workers provided they are subject to PAYE i.e. this…

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Coronavirus Job Retention Scheme – Advice for employers

The Job Retention Scheme is a huge incentive for companies to keep employees on payroll. To access the support companies need to classify employees as a furloughed worker, which means they should not undertake any work for the company while furloughed, including answering calls or emails. In exchange employers can claim a grant of…

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Chapelle enters administration

Jewellery and watch retailer Chapelle has entered into administration, four years after it was sold to HMV owners Hilco UK. Philip Duffy and Sarah Bell of accountancy firm Duff & Phelps have been appointed as administrators of both Mortimer Management Group and The Jewellery Outlet which makes up Chapelle. The…

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BRC submits six-point plan to Chancellor of the Exchequer

Ahead of next month’s autumn statement, the British Retail Consortium (BRC) has submitted a plan to Chancellor George Osborne requesting that changes are made to existing measures in order to strengthen the economy.

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