Budget
This coverage examines the UK Government’s 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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Oct- 2024 -30 OctoberEconomy
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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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 (£33bn), 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 “long-term growth”. The reduction in National Insurance is expected to save the average worker £450 a year, or £350 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 £250,000, as part of a number of measures announced in chancellor Jeremy Hunt’s Spring Budget. To help offset the corporation tax rise, Hunt also announced a provision of £9bn of “full capital expensing” which for…
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Oct- 2021 -27 OctoberIndustry News
Chancellor unveils 50% rates discount for Retail, Hospitality and Leisure
Chancellor Rishi Sunak has unveiled a 50% discount on business rates for the hospitality, retail and leisure sectors (up to £110,000), equating to a business tax cut worth £1.7bn, the biggest single-year rates cut for firms in over 30 years. Unveiling his latest Budget in the Commons today (27 October),…
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14 OctoberCurrent Affairs
Over 40 employee groups pen letter urging Sunak to cut business rates
The CBI, along with 41 trade associations spanning the UK economy, have issued a joint statement urging the chancellor Rishi Sunak to reform the business rates system and “unleash a wave of business investment across key government priorities, including net zero and levelling up”. The joint statement from businesses is…
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Mar- 2021 -8 MarchRetailers
Footfall drops to 73.5% in February
The UK witnessed the second-largest drop in retail footfall since May 2020 last month, with figures falling 73.5%. According to the BRC, the drop represented only a 3.4% percentage point improvement from January. The figures come from the latest ShopperTrak analysis, which has recently joined retail solutions company, Sensormatic Solutions.…
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5 MarchTrade Organisations
Bira urges Sunak to extend business rates relief for full year
The British Independent Retailers Association (Bira) is appealing to Chancellor Rishi Sunak to extend the 100% business rates relief in England for a full year. The plea follows a decision by the government in Wales earlier this week to give retailers 100% rates relief until next March. In February, Scotland…
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