Chancellor sticks to her guns at Budget meeting with retail leaders

Retail representatives have met chancellor Rachel Reeves to detail industry concerns over the extra costs imposed in the recent Budget.

Chancellor Rachel Reeves

Source: Number 10

Chancellor Rachel Reeves has met retail industry representatives to hear about their concerns

British Retail Consortium chief executive Helen Dickinson and chair Andy Higginson pressed the industry’s case at a meeting at the end of last month.

It was organised in response to the letter signed by 80 retail chief executives following the Budget, flagging concern in particular over the changes to the national insurance threshold as well as the effect of the planned packaging levy.

While Reeves said she understood the depth of feeling among retailers – who have warned that the changes could result in price rises and lower investment, she indicated that the government would stick to its guns on the Budget.

She also hoped that the impact of some aspects of the Budget might be mitigated by others, such as business rates reform. The BRC highlighted the need to ensure that business rates proposals do not penalise anchor stores or retailers on trading estates.

BRC chief executive Helen Dickinson said: “Retailers face £7bn in additional costs from 2025 as a result of the Budget and new packaging levies which will have consequences for prices, jobs, pay, and investment across the industry.

“Given retail already pays a disproportionate level of taxes compared to other industries, it is vital that the upcoming business rates reform brings about a meaningful reduction in business rates for all retail properties, and that no shop ends up paying more as a result of the changes.”

What are shellshocked retail management c-suites doing to mitigate the budget?

Anonymous#CommentAvatarLabel Commented on: 8 December 2024 11:24
The general opinion based on the changes that this labour government have created is one of inexperienced MPs heading up important parts of government without the ability to do the job, certainly this chancellor fits that position.

What can be done to change this so that important roles are filled by well trained and experienced people ?

Do we just rely on the civil organisation that is often criticised by MPs ?

The civil service is critical and yet most voters do t really understand what they do and how it is measured.

Perhaps , as it is in every other industry, a qualification or a license granted from a non political organisation could be be an option to assure voters that the person they are voting for is qualified to stand for election.

Currently each party decides who will represent them and yet we can clearly see that this current government really doesn’t know what it is doing and that is bad for everyone no matter what your political view.

It seems to me that one of the most important jobs in any democratic nation is the role of an MP and minister and yet we can see that many of them are simply not fit for purpose and that leads to constant failure and dissatisfaction by voters where 3 million of them registered to change the government after just 5 months .

A professional licensed MP ?
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Anonymous#CommentAvatarLabel Commented on: 8 December 2024 10:48
A predictable outcome as the retail industry has no power, can you imagine if they had attacked industry with this many costs ? The result would have been heavily damaging strikes with a refusal to pay.

Not until the industry and that includes the small guys who are the dominant force wake up and realise that without any power this government and the ones that follow it will continue to pay lip service whilst picking our pockets as we will do nothing but complain .

The very fact that they turned up with a letter signed by just 80 retailers who government know will always pay was frankly pathetic .

Retail needs a new leader , one that will take direct action on behalf of every single retailer big or small that governments will not challenge as they know that the only lever we all have is non payment of rates,

It’s our choice to come together to create a powerful industry voice and that will never happen until the BRC leadership changes and inc,uses every single retailer before it is too late and we see a mass of business closures as that is exactly what’s coming .

My vote would be for Mike Ashley .
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