Business rates set to reach their highest level since introduced in 1990, costing firms an extra £400m March 9, 2016 Retailers and other businesses are bracing themselves for another rates squeeze next month, when the levy will rise again to reach its highest level since it was introduced in 1990. From 1 April, the uniform business rate will hit a landmark 49.7 pence in the pound, which will cost businesses an extra £188m in rates in [...]
National Living Wage: Employers must think carefully before discriminating on age March 9, 2016 From 1 April, the new National Living Wage (NLW) of £7.20 an hour must be paid to workers aged 25 and over. This will effectively replace the National Minimum Wage (NMW) for them, which is currently £6.70 an hour. The NLW is expected to increase to around £9.35 an hour by 2020. Workers aged 24 and [...]
Job growth in London storms ahead of UK average, but introduction of National Living Wage could see employers in sectors with lower wages relying on younger workers or cutting jobs March 8, 2016 Demand for jobs across the UK is at the strongest it has been in years, with London racing out in front, according to a report out today. The study by ManpowerGroup pegged the net employment outlook – the proportion of employers who plan to hire staff less the proportion who plan to reduce their workforce – for the [...]
Staff appointments continued to rise at a steady pace last month, with permanent placements rising at their quickest pace for three months, but uncertain times up ahead for recruiters March 8, 2016 The UK's job market looked strong last month, with permanent placements increasing at their fastest rate for three months, a report released today has found. According to the Report on Jobs by Markit and the Recruitment and Employment Confederation (REC), just less than half (44.8 per cent) of the 400 recruitment and employment consultancies questioned said they had [...]
High Street sales slip back into the red in February as shoppers hold out for bargains March 4, 2016 A resurgence in shoppers flocking to the high street at the start of the year came abruptly to a halt in February after sales slumped back into the red. Accountancy firm BDO's monthly high street track released today shows a 1.7 per cent fall in sales for February – the first negative growth for the month of February since 2012 [...]
Domino’s is putting more cheese on your pizza thanks to drop in food prices March 3, 2016 Ordering Domino's Pizza this evening? Then you may find that the pizza chain has been more generous with the cheese topping on your Margherita, as a drop food prices helped contribute to a jump in sales and profits last year. Chief executive David Wild said its franchisee saved around £11m thanks to record low cheese prices, a drop in [...]
Whitbread shares plunge after “unusually warm winter” slows Costa sales March 3, 2016 Whitbread shares plunged by more than 4 per cent this morning after an “unusually warm winter” meant Costa’s sales slowed. The figures In the 11 weeks to 11 February, Whitbread revealed like-for-like sales at the coffee chain were up 0.5 per cent. Total sales were up 10.5 per cent. Like-for-like sales across Whitbread’s hotels and restaurants, [...]
Business secretary Sajid Javid lays out measures to cut red tape by £10bn March 3, 2016 New comprehensive measures to help meet the government's commitment of cutting a further £10bn of red tape were announced today by business secretary Sajid Javid. While the UK already has the lowest burden of regulation in the G7 nations, according to the World Economic Forum, businesses across the country have been demanding more. Speaking at [...]
One million retail jobs at risk from rising wages and tax costs, warns British Retail Consortium February 29, 2016 One million retail jobs could disappear in the next decade as high street shops across the country struggle to cope with drastic changes in shopping habits and rising costs. The British Retail Consortium (BRC) has warned that government policies including the new national living wage, the apprenticeship levy and rising business rates will add as much as £14bn [...]
Budget 2016: Economists warn of tough times ahead for the British consumer February 29, 2016 British households will have to rein in their spending next year as inflation creeps back up and a fresh round of austerity bites, economic forecasters are warning today. The EY Item Club, which uses Treasury models to make its forecasts, said consumers will enjoy “one last hurrah” this year while inflation remains below one per [...]