News • 25.10.2017

The chancellor needs to deliver a budget for shoppers

Business and consumers are looking to the Chancellor’s upcoming Budget for action to support consumer spending

Scale with information on shopperbudget
Part of the submission: Helping shoppers Budget
Source: BRC

In a submission entitled Helping Shoppers Budget, sent to the Chancellor last week, the British Retail Consortium (BRC) proposes a series of targeted measures to support the retail industry in maximising its future contribution to the UK’s success and playing its part in supporting the country through a period of profound change and uncertainty.

Retail is one of the world’s most innovative industries, the UK’s largest private sector employer and an industry which is finding efficiencies at a faster rate than many others – which in Government speak means it’s outpacing average productivity growth in the UK. It is also an industry undergoing profound structural change, being driven by the ever increasing demands of customers and the technology revolution.

The BRC points to the risk of an opportunity missed. A backdrop of rising labour and property costs is altering the attractiveness of investment options, as the cost of technology falls and digital capability improves. This has profound implications for much needed investments in local communities, new and refurbished shops, and of course jobs.The implications of this are that it’s the most vulnerable communities that will suffer the negative consequences most acutely.

Specifically, the BRC is recommending that the UK Government:

Freezes the business rates multiplier in April 2018 which otherwise will increase the bill of every rate payer in the country and simultaneously divert £270m of retail investment from delivering for consumers and away from local investment.

Keeps the cost of living down for consumers by not increasing income tax rates for the majority of taxpayers and considers accelerating increases in the personal allowance if the squeeze on consumers persists.

Gives itself the best chance of ensuring its flagship apprenticeship policy is successful by providing additional flexibility in how apprenticeship levy funds can be spent.

Works in partnership with retail to enhance the basic digital literacy skills of the large parts of the workforce being left behind by the technology revolution and to increase the amount of UK manufacturing of textiles and clothing.

Ensures business does not face double regulatory charges or new financial burdens from the Withdrawal Bill and makes the necessary investment in infrastructure at ports and border control points to ensure an orderly exit from the EU.

Helen Dickinson OBE, Chief Executive of the BRC said:

“At a time of uncertainty for both the economy and the country, it’s important we set ourselves up for success.

“The cumulative burden of Government imposed costs has become acute. Indeed, September’s inflation figures mean retailers are faced with a £270 million leap in their business rate tax bills alone next Spring. With retailers’ margins being squeezed to their limit, this is money that could be better spent investing in keeping prices low for consumers, in local communities up and down the country and in developing a workforce which is fit for the future.

“Without the Chancellor’s intervention, the consequences for town centres and jobs will be even more keenly felt in the most vulnerable communities. For consumers, the squeeze on household incomes will be compounded as the pound in their pocket buys them even less at the checkout.

“Retailers want to help build the confidence of their customers, us all as shoppers, not damage it. But to do this they need the support of Government policy that keeps down the cost of living, not exacerbates it. That encourages, rather than deters the retail investment necessary to meet constantly evolving customer expectations. And finally, policy action that enables retailers to maximise their vital contribution to the Government’s productivity aspirations.”

Source: BRC

related articles:

popular articles:

Thumbnail-Photo: New German vending partner for ITL
30.11.2023   #Tech in Retail #cash management

New German vending partner for ITL

Innovative Technology (ITL) have recently announced Bernd Boddart as their latest trading partner

Bernd Boddart will be supplying their cash validation and biometric age verification solutions to the German vending market. Bernd Boddart, based in Mönchengladbach, Germany, have 30 years of experience in the field of coffee machines, table ...

Thumbnail-Photo: EuroCIS 2024: Go beyond today!
16.10.2023   #retail #Tech in Retail

EuroCIS 2024: Go beyond today!

27 to 29 February 2024 will see the Who’s Who of Europe’s retail technology sector meet in Düsseldorf

Go beyond today! EuroCIS at the end of February will once again show solutions and products for the retail of the future @Messe DüsseldorfIn late February, numerous companies will again exhibit solutions and products for retailers to shape and ...

Thumbnail-Photo: First of its kind accessible checkout unveild by Woolworths, creating...
03.01.2024   #Tech in Retail #cashpoints

First of its kind accessible checkout unveild by Woolworths, creating new employment opportunities

Breaking Barriers in Retail: Woolworths' New Checkout Design for Wheelchair Users

In what is believed to be a world first, Woolworths has unveiled an accessible checkout, designed specifically for team members living with a physical disability, including people who use wheelchairs and other mobility aids such as walkers.The first ...

Thumbnail-Photo: Ask the Bot: generative AI in retail
02.01.2024   #Tech in Retail #food retail

Ask the Bot: generative AI in retail

Revolution in retail: the era of generative AI and AI bots

They are able to analyse data, write product descriptions, answer shoppers’ questions or write codes...

Thumbnail-Photo: EuroCIS 2024 - technology special
11.12.2023   #online trading #e-commerce

EuroCIS 2024 - technology special

The latest technology solutions and trends for you and the retail sector

At EuroCIS 2022 from February 27 to 29, 2024, the Leading Trade Fair for Retail Technology, we will be looking at all the important and current topics relating to technology in retail: AI and Machine Learning, Payment, Connected Retail, Seamless Store and Smart Energy Management and many more.

Thumbnail-Photo: Nedap teams with Foot Locker to extend RFID project...
05.10.2023   #omnichannel #software applications

Nedap teams with Foot Locker to extend RFID project

Foot Locker successfully matches supply and demand in newly opened stores in Eastern Europe using RFID technology

Nedap the global leader in RFID solutions, announces that multi-brand sports fashion and apparel retailer Foot Locker has successfully extended Nedap iD Cloud to its new, Eastern European stores. The objective is to offer the best possible ...

Thumbnail-Photo: Out of Stock in Retail and innovative solutions to avoid them...
07.11.2023   #brick and mortar retail #customer satisfaction

Out of Stock in Retail and innovative solutions to avoid them

Due to various events, the availability of goods in retail will be increasingly restricted from 2022, with the result that customers cannot find in food retail the products they wish to buy, because those products are sold out, are temporarily ...

Thumbnail-Photo: Tesco to introduce new scan-free technology on self-service tills at...
03.01.2024   #brick and mortar retail #Tech in Retail

Tesco to introduce new scan-free technology on self-service tills at GetGo store

Seamless Shopping Revolution: Tesco Tests Scan-Free Technology in London

Tesco is trialling an exciting new technology innovation that means customers don’t need to scan their items ...

Thumbnail-Photo: SES-imagotag becomes VusionGroup
29.01.2024   #software applications #artificial intelligence

SES-imagotag becomes VusionGroup

A new identity highlighting the broader portfolio of innovative solutions
developed by the Group to solve the major challenges of physical commerce

SES-imagotag (Euronext: SESL, FR0010282822), the global leader in digital solutions for physical commerce, today announced that it has changed its name to VusionGroup. This new name embodies the various product lines and solutions that have enhanced ...

Thumbnail-Photo: Trigo and Netto Announce Autonomous Supermarket with Real-Time Receipt...
24.01.2024   #Tech in Retail #artificial intelligence

Trigo and Netto Announce Autonomous Supermarket with Real-Time Receipt Capability.

‘Final step’ in frictionless shopping drives trust by enabling consumers to view their receipts BEFORE leaving the store
Full size 800m2 grocery supermarket powered by computer vision AI is Europe’s largest retrofitted frictionless store

Trigo, a leading provider of AI computer vision technology that transforms traditional brick-and-mortar retail outlets into digital smart stores, and discount supermarket chain Netto Marken-Discount (also known as Netto), have partnered to launch ...

Supplier

REMIRA Group GmbH
REMIRA Group GmbH
Phoenixplatz 2
44263 Dortmund
VusionGroup SA
VusionGroup SA
55 place Nelson Mandela
90000 Nanterre
Zebra Technologies Germany GmbH
Zebra Technologies Germany GmbH
Ernst-Dietrich-Platz 2
40882 Ratingen
Innovative Technology Ltd.
Innovative Technology Ltd.
Innovative Business Park
OL1 4EQ Oldham
Captana GmbH
Captana GmbH
Bundesstraße 16
77955 Ettenheim