Philip Hammond
Philip Hammond, former UK Chancellor of the Exchequer, has played a significant role in shaping the countryโs fiscal and economic policies, many of which have influenced the retail and jewellery sectors. This coverage examines Hammondโs policy decisions, economic commentary, and their impact on business confidence, taxation, and consumer spending. Jewellery Focus reports on how his leadership and subsequent insights continue to inform discussions around trade, growth, and financial stability affecting the UK jewellery industry.
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Apr- 2020 -22 AprilAdvice
Will there be coronavirus help for small company directors who are paid by dividend?
The financial plight of limited company directors has been raised by the Tory chairman of the Treasury select committee. Mel Stride, a former Treasury minister, said chancellor Rishi Sunak needs to view company directors as a tranche of people who have โslipped through the netโ of all the other largesse…
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Oct- 2018 -29 OctoberRetailers
Autumn Budget 2018: Business rates cut for SMEs and new digital services tax
Chancellor Philip Hammond has confirmed plans to give smaller retailers a 33% cut to business rates and introduced a new digital services tax for companies with at least ยฃ500m in global revenue. The reduction in rates will take place over the next two years and is expected to save businesses…
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18 OctoberRetailers
Retail sector โto face ยฃ186.45m business rates increase next Aprilโ
Retail firms will see business rates increase by ยฃ186.45 next April for the year 2019/20, according to real estate advisor Altus Group. Septemberโs Consumer Prices Index (CPI) measure of inflation, announced on 17 October at 2.4% will determine business rate rises in England for the next year. It is its…
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2 OctoberRetailers
Business rates could be changed to help retailers, says Greg Clark
Secretary of state for business Greg Clark has admitted that business rates could be changed in order to help high street retailers. Clark told a fringe event at the Conservative party conference that a change in business rates would be โone wayโ of recognising the role that high street retailers…
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Dec- 2017 -12 DecemberEconomy
Inflation rises to its highest level for six years
Inflation rose to 3.1% in the month of November, figures from the Office of National Statistics (ONS) have revealed. According to the Consumer Prices Index (CPI), this was up from the 3% level seen in October, and is its highest level since March 2012. More expensive recreational goods – namely…
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Nov- 2017 -21 NovemberRetailers
Online retail growth lower than average in pre-Black Friday lull
Despite showing a year-on-year growth of 12.6%, online retail sales figures in October were lower than average suggesting a pre-Black Friday lull. According to the latest figures from the IMRG Capgemini e-Retail Sales Index, this was lower than both the average year-on-year growth rate of 14.3% for the last three…
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Mar- 2017 -8 MarchEconomy
Budget 2017: Government unveils ยฃ300m business rate relief fund
The government has helped soften the blow of Aprilโs business rate revaluation with a ยฃ300m relief fund for local councils. The announcement was made by chancellor Philip Hammond at todayโs Spring Budget, in which he said business rates raise ยฃ25bn each year – all of which, by 2020, will be…
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Feb- 2017 -14 FebruaryE-Commerce
New government cyber security centre opens
A new cyber security centre has been officially opened by the Queen today, in a bid to protect companies and the government from cyber attacks. The governmentโsย National Cyber Security Centre (NCSC) will use the new London office as its “operational nerve centre” in a bid to stop the growing threat…
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