Shaftesbury back in the black as West End landlord sees ‘rapid rebound’ in shopping destination November 29, 2022 West End landlord Shaftesbury has swung back to profit as the capital’s retail heartland bounced back from Covid-19 disruption this year. The landlord, which is set to merge with neighbouring property giant Capital and Counties next year, shared a £119.1m profit after tax in full-year results. This was a strong come-back for the Carnaby, Seven [...]
Businesses’ ask for the next budget? Make a decision and stick with it, for all our sakes October 26, 2022 Taxes will have to go up and spending down – to the tune of some £40bn on top of what has already been announced by the Chancellor, Jeremy Hunt.
How the Chinese New Year and covid rule changes could give a tourism boost to London’s West End January 6, 2023 London’s West End is looking forward to the return of Chinese tourists this month, after the easing of the nation’s zero-Covid policy – ahead of the Chinese New Year. China has seen a surge in Covid infections in recent months, with EU countries introducing testing requirements for travellers. Travel from and to China will be [...]
UK economy avoids recession edge as GDP shows no growth November 10, 2023 The ONS said services fell by -0.1% per cent, construction grew by 0.1 per cent and production was flat at 0.0 per cent, as the UK economy appeared to remain stagnant.
Westminster Council: West End to receive millions in recovery support fund February 1, 2022 Westminster Council is to inject millions of pounds into reviving the borough’s hospitality industry. Within a £190m investment to support the area, the council has announced a dedicated £1m to recruit waiters, baristas and bar staff, it said yesterday. Some £150m is to be used to redesign the Oxford Street district and make Strand Aldwych [...]
Sunak arrived late to the business charm offensive and still can’t catch up April 26, 2023 Rishi Sunak spent Monday flirting with business leaders, but Keir Starmer and Rachel Reeves are still winning the battle to court corporates.
Brexit impact: Heathrow loses legal bid over end of tax-free shopping for tourists May 21, 2021 Heathrow Airport has lost a High Court bid to challenge the scrapping of tax-free shopping for tourists. Two schemes providing VAT-free shopping for some international visitors were withdrawn by the Treasury at the end of the Brexit transition period on 1 January of this year. The Treasury and HMRC’s decision related to the VAT Retail [...]
Oxford Street retailers call for ‘comprehensive’ reform to business rates June 10, 2024 A business group that represents dozens of major retailers on London’s Oxford Street has called for a “comprehensive” reform to business rates to boost Britain's high streets.
Loss of tax-free shopping costing the UK £4.1bn, say London bosses July 26, 2023 Scrapping the tourist tax could generate £4.1bn annually for the UK economy, new research suggests, as a cluster of prominent business owners call for the government to reinstate VAT shopping for international tourists. Rishi Sunak scrapped the tax which saw international shoppers able to claim 20 per cent back with their purchases. It was largely [...]
UK airports launch fresh bid for new government support February 3, 2021 The UK’s airports have today launched a fresh bid for more financial support from the government as the pandemic shows no signs of abating. The Airport Operators’ Association (AOA) today said that it did not expect passenger numbers to recover to pre-Covid levels until 2025 at the earliest. It said that the coming summer needed [...]