“The chancellor has committed to tearing down regulatory barriers and implementing policies to grow our economy and create jobs. And yet retailers are facing tough choices as they try to find ways to address the £7 billion [~$9 billion] in new costs this year as a result of increased employer NICs [national insurance rates], higher NLW [national living wage] and the new packaging tax," BRC chief executive Helen Dickinson said in a statement.
"The impact of this will be higher prices, fewer shops and less investment in jobs,” she said.
“As the chancellor aims to drive down the number of those who are ‘economically inactive’, there is a need for better routes back into work for those that want or need it after a period of inactivity. The retail industry provides a perfect solution,” she noted.
“But the costs from the Budget, and uncertainty about how the Employment Rights Bill and new business rates policy will be implemented, mean it will be much harder for retailers to keep creating these kinds of jobs….A serious plan for retail growth would support the industry to invest in new jobs and keep prices down for customers,” she added.
ALCHEMPro News Desk (DS)
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