Leading retailers write to Chancellor ahead of Autumn Budget - BRC
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Sixty Chief Executives of Britain's biggest retailers have written
to the Chancellor to ask for action ahead of the Autumn Budget.
Helen Dickinson, Chief Executive at the British Retail Consortium,
noted: “Last year's budget added £7 billion to retailers' costs
which in turn are driving up prices for ordinary families. This is
why Britain's largest retailers are writing to the Chancellor,
calling for action on business rates to fix a system which sees
retailers, as 5%...Request free trial
Sixty Chief Executives of Britain's biggest retailers have written to the Chancellor to ask for action ahead of the Autumn Budget. Helen Dickinson, Chief Executive at the British Retail Consortium, noted:
“Last year's budget added £7 billion to retailers' costs which in
turn are driving up prices for ordinary families. This is why
Britain's largest retailers are writing to the Chancellor,
calling for action on business rates to fix a system which sees
retailers, as 5% of the economy, pay over 20% of the total rates
bill. Without reform, this system will continue to cost jobs,
limit investment and push up prices for households
everywhere. The letter from retailers can be found below (check here for the most up-to-date signatory list): --- Dear Chancellor, In recent years, the British public have endured one of the highest periods of inflation in living memory. It has been a difficult time in which the cost of living has soared, particularly for those on the lowest incomes. As retailers, we have done everything we can to shield our customers from the worst inflationary pressures but as they persist, it is becoming more and more challenging for us to absorb the cost pressures we face. This year government policy has added £7 billion in new costs to retail businesses, resulting from changes to employer National Insurance, higher employment costs, and the introduction of a new packaging tax. Similar increased costs are also starting to flow through our supply chains. Food prices - which had begun to ease - are once again climbing. In its recent Monetary Policy Report, the Bank of England stated that “food price inflation has also picked up by more than anticipated… and is expected to rise further”. It went on to say that “high expected food price inflation is driven partly by higher global commodity prices, but also by labour costs and the Extended Producer Responsibility regulations”. The British Retail Consortium shares in this analysis and expects food inflation to hit 6 percent later this year, driving up household bills just as winter energy costs start to kick in. The impact is further being felt by communities as retail investment falls and 100,000 retail jobs have been lost over the last year alone. Labour's manifesto made a clear and welcome promise to deliver good jobs and higher living standards but if future policy decisions lead to rising prices and fewer jobs, then those commitments are at risk. Instead, the retail industry is uniquely placed to help deliver the Government's central economic mission given our presence in almost every community across the UK. We are committed to investing in our businesses and providing good quality jobs for people at all stages of their career, whether that's someone entering the workforce for the first time, wanting flexible work to fit around their family commitments or returning to work later in life. We compete fiercely and continue to keep a laser focus on prices and value for our customers, absorbing cost pressures wherever we can. It is for these reasons we support your plan to reduce business rates on Retail, Hospitality and Leisure. To deliver the improvements to investment the Government seeks, support local employment, and help relieve the pressure on prices, it is essential these changes result in a significant reduction in the industry's tax burden. No store should pay more as a consequence, with all shops excluded from the new higher multiplier. As we have outlined to your officials, these outcomes can be achieved at no cost to the Exchequer. As the Chief Executives of many of Britain's leading brands, we are determined to help deliver your growth ambitions. However, for this to be possible, the conditions for stable prices, continued investment and sustainable employment must be at the heart of this year's Budget. We see it as a key moment for the Government to publicly buy into retail and the vital role the industry can play in helping deliver a stronger and more resilient economy for all. We look forward to working with you on this important mission. Yours sincerely, Giles Hurley, Chief Executive Officer, Aldi Stores UK Maria Hollins, CEO, Ann Summers Allan Leighton, Executive Chairman, Asda Sue Kemp, Managing Director, Associated Independent Stores Graham Bell, CEO, B&Q Nick Collard, Chief Executive, Bensons for Beds Meryl Halls, Managing Director, Booksellers Association Nigel Murray, Managing Director, Booths Anthony Hemmerdinger, Senior Vice President and Managing Director, Boots UK Andrew Goodacre, CEO, British Independent Retailers Association Helen Dickinson, CEO, British Retail Consortium Alasdair Murdoch, CEO, Burger King UK Debbie Robinson, Chief Executive, Central Co-op Mireille Baumgart, Chairman, Concept Living Alex Baldock, Group Chief Executive, Currys David Robinson, CEO, Dobbies Garden Centres Andrew Rennie CEO, Domino's Pizza Group Jonathan Hirst, Chief Executive, Dreams Nigel Darwin, CEO, Dune Group Mia Fenwick. Executive Deputy Chair, Fenwick Andrew Hinds, Chairman, F Hinds Lachlan Roach, Managing Director UK, Harvey Norman Alex Willson, CEO, HobbyCraft Anthony Houghton, CEO, UK&I, Holland & Barrett Fran Barnes, Chief Executive Officer, Horticultural Trades Association Peter Jelkeby, UK&IE Country CEO & CSO, IKEA Regis Schultz, CEO, JD Sports Jason Tarry, Chair, John Lewis Partnership Mark Wright, CEO, JoJo Maman Bébé Rob Swain, General Manager, KFC UK&I Thierry Garnier, Chief Executive, Kingfisher Adil M-Khan, CEO, Liberty Group Alison Hands, CEO, Lincolnshire Co-operative Ryan McDonnell, CEO, Lidl GB John Colley, Executive Chairman and CEO, Majestic Wine Group Fiona Cullen, Retail Director, Mango Nick Stowe, CEO, Monsoon Accessorize Rami Baitieh, CEO, Morrisons Brian Brick, Chief Executive Officer, Moss Bros Helen Connolly, Chief Executive Officer, New Look Paul Stirling, Group Retail Director, One O One Convenience Stores Kari Rodgers, Retail Director UK, Primark Nick Vance, CEO, Radley and Co Christos Angelides, Chief Executive Officer, Reiss Julie Abraham, CEO, Richer Sounds Simon Roberts, Chief Executive Officer, Sainsbury's Colin Temple, President, Schuh Dr Pete Cheema OBE, Chief Executive, Scottish Grocers' Federation Karen Scott, CEO, Scottish Midland Co-operative Society John Mewett, CEO, Screwfix Paul Hayes, Chief Executive Officer, Seasalt Andy Lightfoot, Chief Executive, Space NK Michael Fletcher, Managing Director, Spar UK Ken Murphy, Group CEO, Tesco Sean Toal, Chief Executive, TGJones Shahid Razzaq, Chair Political Engagement, The Federation of Independent Retailers Tim Bettley, Managing Director, The Original Factory Shop Gill Smith, Managing Director, The Perfume Shop Angela Rushforth, Managing Director, Toolstation
David Wood, Group Chief Executive Officer,
Wickes Group --- -ENDS- There were sixty signatories at the time of publication. The list of signatories is being continually updated and the full up-to-date list can be found here: https://brc.org.uk/news-and-events/news/leading-retailers-write-to-chancellor-ahead-of-autumn-budget/ |