BRC Urges Burnham to Cut £6.5 Billion Retail Costs and Tackle 1 Million Jobless Youths
Updated
Updated · City A.M. · Jul 15
BRC Urges Burnham to Cut £6.5 Billion Retail Costs and Tackle 1 Million Jobless Youths
3 articles · Updated · City A.M. · Jul 15
Summary
British retailers are pressing prime minister-to-be Andy Burnham to reverse wage and national insurance hikes, cut business rates and set up a task force to get more young people into work.
The British Retail Consortium says the sector has absorbed £6.5 billion in extra employment costs since 2024, while higher rates and packaging taxes are squeezing hiring, investment and prices on the high street.
Retailers also say business rates bills have risen by £1.8 billion in two years and that the sector now pays 75% of its profits in tax, making tax relief central to any high street revival.
Burnham has already promised a high street "renaissance" and broader business rates relief for small firms, while separate industry proposals call for a 37% cut in bricks-and-mortar rates funded by a 2% online sales levy.