More

    Independent Retailers Association sets out expectations for November Budget

    (Photo: Dan Kitwood/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.

    Latest

    PML launches new digital trade platform for IQOS retailers

    Philip Morris Limited (PML) has unveiled Heatwave Open, a digital trade...

    TWC Group is new James Hall & Co. Ltd data partner

    TWC Group has been announced as the new data...

    Rekorderlig unveils new Peach-Raspberry flavour for 2024

    Rekorderlig is expanding its range with the launch of...

    Historic charity, NewstrAid, announces 185th birthday raffle

    Industry charity, NewstrAid, has announced it will be holding...

    Don't miss

    PML launches new digital trade platform for IQOS retailers

    Philip Morris Limited (PML) has unveiled Heatwave Open, a digital trade...

    TWC Group is new James Hall & Co. Ltd data partner

    TWC Group has been announced as the new data...

    Rekorderlig unveils new Peach-Raspberry flavour for 2024

    Rekorderlig is expanding its range with the launch of...

    Historic charity, NewstrAid, announces 185th birthday raffle

    Industry charity, NewstrAid, has announced it will be holding...

    £10,000 worth of illegal vapes, tobacco seized in South Tyneside

    Around £10,000 worth of illegal vapes and tobacco has...

    PML launches new digital trade platform for IQOS retailers

    Philip Morris Limited (PML) has unveiled Heatwave Open, a digital trade engagement platform designed to bolster online support for convenience retailers stocking its heated tobacco device IQOS. The...

    TWC Group is new James Hall & Co. Ltd data partner

    TWC Group has been announced as the new data partner of SPAR North of England wholesaler James Hall & Co. Ltd. Through TWC, suppliers will...

    Historic charity, NewstrAid, announces 185th birthday raffle

    Industry charity, NewstrAid, has announced it will be holding a special 185th birthday raffle as part of its anniversary celebrations this summer. Everyone from the...