Responding to the Chancellor’s Spring Budget, Helen Dickinson,
Chief Executive of the British Retail Consortium, said:
“In the face of volatile demand caused by high inflation and low
consumer confidence, measures to support households with the cost
of living, such as the ongoing energy bill support and changes to
childcare costs, are welcomed. However, many businesses are
weighed down by a myriad of higher costs right through the supply
chain. Government must do more to limit one of the biggest drags
to retail investment, which is oncoming regulatory burdens
heading down the track, or risk a crash in business investment
and further inflationary pressures.
“The Chancellor understands the need to train people to re-enter
the workforce, yet he missed a key opportunity to fix the issues
with the Apprenticeship Levy system that would support this very
goal. Over the last three years, businesses have lost £3.5bn in
unused Levy funds. To break this cycle of wasted investment, it
is vital that Government allows businesses to use their
hard-earned Levy funds for a wider array of skills courses.
Without spending a penny, the Chancellor would increase
investment in our workforce, helping businesses to prepare the UK
economy for the skills it needs.
“While the Autumn Budget brought in some welcome changes to
the Business Rates system, further reform is needed. The
broken Business Rates system remains a drag on business
investment, jobs, and economic growth. Rates must be paid in full
whether firms are making a profit or a loss. This makes Business
Rates the final nail in the coffin for many struggling stores;
shutting shops, costing jobs and preventing new stores openings.
The Chancellor should make good on the Conservative 2019 pledge
to reform Rates and lay out a clear roadmap for future reforms.”
