Government news and archive

Fashion industry calls on UK government to implement variable EPR fees

A new white paper by QSA Partners has outlined a call on the UK government to implement variable Extended Producer Responsibility (EPR) fees to help drive sustainability and establish a circular economy in the UK fashion and textiles sector. The report, which was backed by UKFT, BFC, the BRC and several fashion brands, looked to emphasise the...

BusinessFeatured

In the UK, a new Labour government is incoming: What this means for retail

In what has been a largely anticipated turnout, Labour has swung the election with a landslide majority, making Keir Starmer the UK’s next prime minister (made official once King Charles III formally requests him in during a ceremony later today). It marks the first change in government in 14 years, throughout which the Conservatives served at...

BusinessFeatured

New West End Company unveils manifesto “for growth” ahead of general election

The New West End Company (NWEC), which represents more than 600 UK and international firms in London's West End, has unveiled a new manifesto laying out policy priorities and recommendations for the future government ahead of the upcoming general election in the UK. The manifesto has been built on insights from its hundreds of members to outline...

Business

Date of UK general election confirmed

Prime minister Rishi Sunak has confirmed that the next UK general election is to take place July 4. The announcement came after it was reported that the region’s annual inflation had fallen to its lowest level in three years. According to the Office of National Statistics (ONS), prices rose by 2.3 percent in the 12 months to April 2024, down...

BusinessFeatured

UK’s Spring Budget: What to know and how the industry is responding

Jeremy Hunt outlined his Spring Budget earlier this week and, like his prior Autumn Statement, was met with mixed reactions from the retail industry as a whole. His speech to MPs began by outlining the government’s achievement of lowering inflation from 11 percent, when prime minister Rishi Sunak came into office, to 4 percent, which Hunt said “...

Business

UK ‘tourist tax’ reportedly costing 11.1 billion pounds in lost GDP

A new report by the Centre for Economics and Business Research (Cebr) has said that the UK’s widely debated ‘tourist tax’ is costing the region’s economy 11.1 billion pounds in lost gross domestic product (GDP). Cebr said that it had used tourist data released by the government last week to analyse the impact of scrapping the VAT-free shopping...

BusinessFeatured

Retailers express mixed feelings towards Autumn Statement, living wage boosted

Chancellor Jeremy Hunt delivered his highly anticipated Autumn Statement at the House of Commons yesterday, and has since been met with a mixed bag of reactions from the retail industry, much of which was expecting much more in the way of assistance. Among the new measures, Hunt announced that business rates would be frozen for smaller...

Business

UK government puts end to ‘period pants tax’

As part of the government’s Autumn Statement, the chancellor has announced that period pants will be free of value added tax (VAT) from January onwards, a move that was met with celebration from retailers, women’s organisations and customers alike. Earlier this year, such groups rallied together on a campaign that called on the government to...

BusinessFeatured

350 Business leaders join call on government to reintroduce tax-free shopping

An open letter to chancellor Jeremy Hunt has been signed by 350 business people across the retail, hospitality, arts and tourism sectors, and calls for the reintroduction of tax-free shopping ahead of the government’s debate on the topic, scheduled for September 7. Among the signatories are the CEOs, general managers, designers and directors of...

RetailFeatured

Labour to launch five-point plan to ‘revitalise’ local high streets

The UK’s Labour party has outlined a new five-point plan to “revitalise local high streets”, after the sector took a hit due to rising inflation, costly energy bills and offsets of the pandemic. Among its efforts, the party said it would launch a Police Efficiency and Collaboration Programme that aims to combat anti-social behaviour and “deliver...

Retail

Retail jobs fall by 14,000 as retailers attempt to keep costs down

New figures from the Office for National Statistics have shown a significant decline in retail jobs over Q4 2022, as retailers continue their efforts to keep costs low. According to the government department’s Labour Market results, there were 3.12 million jobs in UK retail as of December 2022, down 14,000 year-on-year. Meanwhile, retail...

Business

Marks & Spencer CEO calls on government to take more decisive action in Spring Budget

In an open letter, CEO of Marks & Spencer, Stuart Machin, has called on the government to make more “decisive, practical action” in a bid to support the growth of the economy. His words come ahead of the chancellor Jeremy Hunt’s Spring Budget, which is set to be unveiled Wednesday. Machin has requested that three key areas – skills, net-zero and...