The Welsh Retail Consortium (WRC) has today published its
recommendations for the 2027-28 Welsh Budget, calling on the
Welsh Government to deliver a Budget for Shoppers' that supports
household spending power, strengthens town centres, invests in
retail skills, and makes shopping destinations safer.
The retail industry employs around 121,000 people across Wales
and contributes a quarter of all business rates revenues,
generating around £325 million annually. However, retailers
continue to face significant pressures from rising employment,
energy, supply chain and property costs, alongside weaker shopper
footfall and fragile consumer confidence.
The WRC's submission sets out four key priorities for ministers
and MSs ahead of the Budget:
- Help retailers keep prices down and protect household
budgets.
- Rejuvenate shopping destinations through business rates
reform and town centre investment.
- Invest in retail skills and employability programmes.
- Tackle retail crime and improve safety for shoppers and shop
workers.
The report warns against introducing additional regulatory or tax
burdens on retailers and calls for the Welsh Rate of Income Tax
to remain unchanged to protect disposable incomes and consumer
spending. It also raises concern regarding the Welsh Government's
plan to fund a permanent 30% business-rates cut for eligible
hospitality and leisure properties through a further increase in
the higher multiplier, warning that this would place another
burden on larger retail premises already contending with acute
cost pressures.
Sara , Head of the Welsh Retail
Consortium, said:
Retail is one of Wales' largest
private sector employers and touches every community in the
country. Every day retailers work hard to provide customers with
choice, convenience and value, but businesses continue to face
intense cost pressures while consumer confidence remains fragile.
Our recommendations are centred on one simple principle: a Budget
for Shoppers. That means helping retailers keep prices
affordable, protecting household spending power, creating
thriving town centres, investing in people and ensuring shoppers
and retail workers feel safe.
Retailers want to invest, create jobs and support local
communities, but they need the right economic and policy
environment to do so. We believe these proposals would deliver
tangible benefits for households, businesses and communities
across Wales.
-ENDS-
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