‘Positive action’ needed for retail and hospitality

Businesses in retail and hospitality risk being left behind by the Government's Industrial Strategy, according to a report by the Business, Energy and Industrial Strategy (BEIS) committee. The committee said that while the Industrial Strategy has focused on support...

Retail sales increase in January

Retail businesses have seen an increase to sales in January 2019, bouncing back from a decline over Christmas. Data from the Office for National Statistics shows the quantity of goods sold increased by 1% on the previous month, after falling by 0.7% in December 2018....

Business rates cut for small retailers

Small retail businesses in England are set to benefit from a reduction to business rates, as announced in Budget 2018. Business rates will be reduced by a third for many retail properties with a rateable value below £51,000 for two years from April 2019, subject to...

Unemployment falls to 3.8%

The unemployment rate in the UK has fallen to its lowest rate in nearly 45 years, at 3.8%. Figures from the Office for National Statistics show that from January to March 2019, an estimated 1.3 million people were unemployed, while 37.2m were in employment. The last...

Business rates need reform, CBI says

The business rates system has become "uneconomical" and "unsustainable", and should be reviewed, according to the Confederation of British Industry (CBI). Business rates are a tax on most properties used for business purposes, and are calculated based on an estimate...