Skip to content
Search
AI Powered
Latest Stories

Independent Retailers Association sets out expectations for November Budget

Independent Retailers Association sets out expectations for November Budget
(Photo: Dan Kitwood/Getty Images)
Getty Images

The British Independent Retailers Association has said it's set out some high expectations from the government to create a positive impact for the high street after such a difficult year.

BIRA, which works with over 6,000 independent businesses of all sizes across the UK, said Prime Minister Rishi Sunak had some tough hurdles ahead of him to create a budget on November 27 which will have a positive impact on the high street and retail sector in the coming year.

"With the November budget approaching, we are eager to express our expectations and hopes for the forthcoming policies that will significantly impact the retail sector," said Andrew Goodacre, CEO of Bira. "We believe that the proposed measures can pave the way for a robust and sustainable economic recovery, benefiting both businesses and consumers alike and we wish for the government to stand up and take note of the following requests from us to help rebuild our high street."

In its request, Bira highlighted the following issues that need to be addressed:

Business Rates

It is imperative that the government considers retaining the current retail discount at 75 per cent for businesses with a rates payable value of up to £110,000 per annum. To promote a stable business environment, we urge the freezing of the rates multiplier, along with the implementation of measures that provide certainty to businesses, fostering an environment conducive to investment. Making the current rates discount permanent would be a significant step in this direction.

Corporation Tax

We advocate for the introduction of an allowance in corporation tax similar to the system implemented for income tax. This move will be instrumental in supporting businesses, ensuring their sustained growth and contribution to the overall economic landscape.

Tax-Free Shopping

Reintroducing tax-free shopping is critical to stimulating retail activity, not only in major urban centres but also in all tourist destinations across the country. By reinstating this system, the government can foster increased spending, catering to the rising number of tourists and promoting economic resilience within the retail sector.

National Minimum Wage and Employer Support

Recognising the upcoming increase in the National Minimum Wage, we emphasise the necessity of a proportional increase in the employer's national insurance allowance by 20%. This adjustment will provide essential support to businesses, enabling them to manage costs and maintain a balanced operational framework.

Business Grants for Sustainability

Bira strongly advocates for the continuation of business grants designed to support small enterprises in implementing energy-saving investments. Independent retailers are committed to fostering sustainability, and adequate government assistance in this area will play a pivotal role in facilitating their efforts.

As we anticipate the upcoming budget, Bira remains committed to working collaboratively with the government and relevant stakeholders to ensure that the proposed measures align with the collective interests of the retail industry and the broader business community.

More for you

Glenshire Group appoints Dan Arrandale as property director

Glenshire Group appoints Dan Arrandale as property director

Scottish business conglomerate Glenshire Group has hired Daniel Arrandale as its new Property Director.

Starting in the newly created role last week, Arrandale brings a wealth of industry experience to the business, including his most recent position as Acquisitions Manager for Asda and his previous position as Development Manager at EG Group.

Keep ReadingShow less
Carlsberg Zero
Competition watchdog begins Carlsberg, Britvic merger probe
Competition watchdog begins Carlsberg, Britvic merger probe

Carlsberg shifts marketing focus as drinkers choose cheaper beer

Brewer Carlsberg is shifting some of its marketing focus to cheaper brands, it said on Thursday (31), as consumers in major markets bought cheaper beer and in reduced quantities.

The maker of Kronenbourg 1664, Tuborg and Somersby said beer sales volumes fell by 1.3 per cent in the third quarter, noting declines in China, France and the United Kingdom. Premium sales fell 0.5 per cent in the quarter."In Western Europe, there's no doubt that the average consumer is holding back," CEO Jacob Aarup-Andersen told Reuters.

Keep ReadingShow less
sustainability, zero waste store, refil lzone
Photo: iStock
Photo: iStock

Consumers value ethics though 'sustainability needs to be competitively priced'

Consumers now want a greater commitment from retailers in cutting food waste, refilling stations, sustainable packaging, and partnering with social purpose organisations, states a recent research, which also highlights that a good majority (69 per cent) of younger consumers are more likely to shop with what they see as socially responsible retailers though price sensitivity still plays a crucial role.

According to the findings, published in Vypr’s Consumer Horizon Report, reducing food waste is the most important factor for the majority of UK consumers (29 per cent), especially for Gen Z women aged 18-24 (38 per cent). More than a third (37 per cent) of men aged 18-24 said they needed food storage advice. A similar number of women aged 18-24 (33 per cent) want meal kits with the exact amount of ingredients included for them to cut down on food waste.

Keep ReadingShow less
Sugro-Wn-News.png
Sugro UK
Sugro UK

Sugro UK unveils new B2B digital enhancements to empower members, retailers

Sugro UK, the number one buying and marketing buying group*, in partnership with b2b.store, is thrilled to announce a further expansion of its existing E-Loyalty scheme programme, which has proven to be very popular with its members and retailers, by introducing E-Loyalty Extra Compliance and Execution scheme as well as E-Coupons.

The E-Loyalty Extra is aimed to boost compliance and execution at retail store level to drive new product launches, core range compliance, some exciting fixture trials with its supply partners and more! It will be available to all member owned and member affiliated retail stores within the group.

Keep ReadingShow less
Paulig acquires Panesar Foods

iStock image

Paulig acquires Panesar Foods

Expanding its footprint in the World Foods category, Paulig has acquired Panesar Foods, a prominent UK-based producer of sauces and condiments.

Founded in 1992 and headquartered in Tipton, Panesar Foods is a family-owned business with three production facilities, employing 308 staff and achieving a turnover of £59 million in the 2023 fiscal year.

Keep ReadingShow less