Healey urged to cut business costs as consumer confidence slips

cityam09-24 07:01

Consumer confidence fell in September (House of Commons/UK Parliament/PA Wire) Retailers have called on John Healey to slash the “burdensome” costs of doing business at the Budget next month, warning ...

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07:01 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cityam.com/healey-urged-to-cut-business-costs-as-consumer-confidence-slips/><strong>cityam</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Consumer confidence fell in September (House of Commons/UK Parliament/PA Wire) Retailers have called on John Healey to slash the “burdensome” costs of doing business at the Budget next month, warning ...</p>\n\n<a href=\"https://www.cityam.com/healey-urged-to-cut-business-costs-as-consumer-confidence-slips/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"VCRPF","symbol_name":"Vanguard Funds 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Marks and Spencer, has urged the Chancellor to tackle the “triple blow” of soaring business rates, employment costs and energy bills.Consumer confidence fell for the first time in four months in September, according to new figures from the BRC and Opinium, indicating that fresh fears over inflation and government debt are weighing on Brits’ wallets.“Retail will play its part, but the Chancellor must not compound the triple blow from escalating employment costs, energy bills, and business rates, allowing retailers to focus on holding prices down,” she added.“He should start by freezing the business rates multiplier, preventing yet another burdensome tax increase.”","collect":0,"end_time":0,"defaultTopTitle":"cityam.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"VCRPF":"Vanguard Funds PLC","IEDI":"iShares U.S. Consumer Focused ETF","WANT":"Direxion Daily Consumer Discretionary Bull 3X ETF","IYC":"iShares U.S. Consumer Discretionary 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that consumer confidence will continue to stumble without urgent action. The British Retail Consortium (BRC), which represents top retailers like Tesco, Sainsbury’s and Marks and Spencer, has urged the Chancellor to tackle the “triple blow” of soaring business rates, employment costs and energy bills. Consumer confidence fell for the first time in four months in September, according to new figures from the BRC and Opinium, indicating that fresh fears over inflation and government debt are weighing on Brits’ wallets. \n\nNearly half of Brits now expect the state of the economy to worsen in the next three months, compared to 44 per cent in August. Almost a third of consumers expect their personal financial situation to worsen in the near-term, up from 28 per cent last month, as households prepare to cut back on discretionary spending.Some 13 per cent of consumers expect to spend less on clothes in the near future, up from 11 per cent last month, while the number of Brits preparing to cut back on electronics jumped from 11 to 12 per cent, the survey found.\n\n\n\n\n\n\nNews Updates\nStay ahead with our three daily briefings delivering all the key market moves, top business and political stories, and incisive analysis straight to your inbox.\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n“[Consumers] want to see the government prioritise bringing down the cost of living” at Healey’s first budget next month, said Helen Dickinson, chief executive of the BRC.\n\n“Retail will play its part, but the Chancellor must not compound the triple blow from escalating employment costs, energy bills, and business rates, allowing retailers to focus on holding prices down,” she added.“He should start by freezing the business rates multiplier, preventing yet another burdensome tax increase.”","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; 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