Budget

RCVS moves into new Hardwick Street office

The Royal College of Veterinary Surgeons (RCVS) has officially moved into its new headquarters on Hardwick Street in Clerkenwell, Central London. The six-floor former warehouse, built around 1929, was purchased for £22.3m in 2022. It was fully tenanted at the time, generating £1.4m in rental income between 2022 and 2023.…

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Retailers refrain from price rises in March

Retailers did not resort to price rises throughout March, according to the latest BRC-NIQ Shop Price Index, despite rising cost pressures. It comes as high street retailers are competing for reluctant shoppers, who are more likely to be pulled in with seasonal promotions. Mike Watkins, head of retailer and business…

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Chancellor resists calls for business relief in Spring Statement

Chancellor Rachel Reeves has resisted calls from businesses for relief ahead of the upcoming tax changes this April, as part of her Spring Statement today (26 March). UK businesses had been hopeful the chancellor would raise the relief rate for retail, hospitality, and leisure after cutting it to 40% in…

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Pets at Home CEO warns Budget will effect part-time workers and women

Pets at Home CEO Lyssa McGowan has warned that the changes to National Insurance in the Budget will negatively impact part-time workers and women. McGowan stated in an interview with Mail on Sunday that Pets at Home faces an £18m increase in costs. The National Insurance contribution threshold will be…

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PIF launches business toolkit

The Pet Industry Federation (PIF) has launched the first phase of its business toolkit designed to help small and medium-sized pet businesses across the UK ‘plan and operate more effectively’. The initial release of the toolkit includes financial planning tools and a business plan template, both tailored to the unique…

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BRC warns of ‘spending squeeze’ in January

The British Retail Consortium has warned of a January spending squeeze, as BRC-Opinium data between 10 and 13 December showed that people’s spending intentions dropped 6pts. It comes as public confidence in the state of the economy “took a nosedive”, falling 8pts to -27, creating a widening gap between expectations…

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UK retail sales dip 3.3% in November

UK total retail sales decreased by 3.3% year on year in November, against a growth of 2.6% in November 2023, the British Retail Consortium showed. According to the new figures, this was below the 3-month average growth of -0.1% and the 12-month average growth of 0.5%. However, the BRC said…

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UK pet industry writes to chancellor over budget concerns

The Pet Industry Federation (PIF) has written to the chancellor of the exchequer, Rachel Reeves, this week to express significant concerns about the recent Budget and its potential negative effects on the pet industry and pet ownership. The UK pet industry, a £7bn sector, supports millions of pet owners and…

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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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Retail industry is overtaxed, says BRC

The British Retail Consortium (BRC) has claimed that the retail industry is overtaxed compared with other sectors of the economy after new research found retail pays 7.4% of all business taxes (£33bn), a share 1.5 times greater than its share of the overall economy (5% GDP). The BRC said this…

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