Conservative response to falling retail sales and consumer confidence

Andrew Griffith MP, Shadow Business and Trade Secretary, said:

“With retail sales falling, we are seeing the impact of Rachel Reeves's Budget uncertainty hanging like a wet blanket over the economy.

“She's managed to do damage to business before she even stands up to deliver her speech.

“Labour don't have the backbone to control spending and that means tax rises are coming. Only the Conservatives have the plan to deliver a stronger economy.”

ENDS

Notes to Editors

• The GfK Consumer Confidence Barometer showed that all measures of consumer confidence fell in September. The Barometer showed that all consumer confidence measures were down including personal financial situation over the last 12 months, predictions of personal financial situation over the next 12 months, the general economic situation over the last 12 months, and predictions of general economic situation over the next 12 months (NIQ, Press Release, 21 November 2025, link).

• Neil Bellamy, Consumer Insights Director at GfK, said the findings of the Consumer Confidence Barometer were ‘bleak'. BELLAMY: ‘This is a bleak set of results as we head towards next week's Budget. A fall across all five measures suggests the public is bracing for difficult news, with little in the current climate to lift expectations. The continued erosion of confidence is evident in the forward-looking measures for both Personal Financial Situation and the General Economic Situation, which are each down by two points' (NIQ, Press Release, 21 November 2025, link).

• The Office for National Statistics has shown retail sales fell unexpectedly in October, for the first time since May. The figures show retail sales by volume fell 1.1% during October. (ONS, 21 November 2025, link.)