Budget
This coverage examines the UK Governmentโs Budget announcements and their impact on the petcare industry, focusing on measures that affect retailers, wholesalers, distributors, and supply chain operators. Pet Gazette reports on changes to taxation, business rates, funding schemes, and economic forecasts, alongside analysis of how these policies influence operational costs, investment decisions, and consumer spending. Our coverage helps pet trade professionals understand the financial and regulatory environment to plan effectively for the year ahead.
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Jan- 2025 -8 JanuaryBusiness
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 โplan and operate more effectivelyโ. The initial release of the toolkit includes financial planning tools and a business plan template, both tailored to the unique…
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Dec- 2024 -23 DecemberEconomy
BRC warns of โspending squeezeโ in January
The British Retail Consortium has warned of a January spending squeeze, as BRC-Opinium data between 10 and 13 December showed that peopleโs spending intentions dropped 6pts. It comes as public confidence in the state of the economy โtook a nosediveโ, falling 8pts to -27, creating a widening gap between expectations…
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3 DecemberEconomy
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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Nov- 2024 -20 NovemberTrade Organisations
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 ยฃ7bn sector, supports millions of pet owners and…
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Oct- 2024 -30 OctoberEconomy
Budget: Increases to employersโ NI and minimum wage
The Chancellor Rachel Reeves has increased Employersโ National Insurance contributions in a bid to help raise as much as ยฃ40bn in taxes, pledging to also boost long-term growth and โmark an end to short term-ismโ as part of Labourโs first budget since it came into power. Employersโ National Insurance contributions…
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Sep- 2024 -13 SeptemberRetailers
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 (ยฃ33bn), a share 1.5 times greater than its share of the overall economy (5% GDP). The BRC said this…
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Aug- 2024 -7 AugustEconomy
Retail sales jump 0.5% in July
UK Total retail sales increased by 0.5% year on year in July, against a growth of 1.5% in July 2023, amid improved performance from clothing as shoppers enjoyed the summer weather, according to the latest figures from the KPMG-BRC retail sales monitor. This was above the three-month average growth of…
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Mar- 2024 -6 MarchEconomy
Chancellor cuts NI by a further 2p as part of Spring Budget
Chancellor Jeremy Hunt has announced a further 2p cut to National Insurance falling from 10% to 8% from 6 April, as part of his Spring Budget for โlong-term growthโ. The reduction in National Insurance is expected to save the average worker ยฃ450 a year, or ยฃ350 for those who are…
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Nov- 2023 -22 NovemberBusiness
Chancellor cuts National Insurance to 10% alongside NLW rise
Chancellor Jeremy Hunt has announced a series of measures to help boost the UK economy as part of his Autumn Budget including slashing National Insurance by 2% and freezing business rates for retail and hospitality. As part of the new measures, Hunt revealed that National Insurance will be cut from…
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Mar- 2023 -15 MarchEconomy
Spring Budget: Corporation tax to rise to 25%
Corporation tax is set to rise from 19% to 25% for firms with profits over ยฃ250,000, as part of a number of measures announced in chancellor Jeremy Huntโs Spring Budget. To help offset the corporation tax rise, Hunt also announced a provision of ยฃ9bn of โfull capital expensingโ which for…
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