{"id":135488,"date":"2024-11-19T09:00:39","date_gmt":"2024-11-19T07:00:39","guid":{"rendered":"https:\/\/tietopankki.crnet.fi\/fi\/news\/uk-retail-warns-of-inflation-and-job-losses-from-budget-seeks-reeves-meeting\/"},"modified":"2024-11-19T09:00:39","modified_gmt":"2024-11-19T07:00:39","slug":"uk-retail-warns-of-inflation-and-job-losses-from-budget-seeks-reeves-meeting","status":"publish","type":"post","link":"https:\/\/tietopankki.crnet.fi\/fi\/news\/uk-retail-warns-of-inflation-and-job-losses-from-budget-seeks-reeves-meeting\/","title":{"rendered":"UK retail warns of inflation and job losses from budget, seeks Reeves meeting"},"content":{"rendered":"<div class=\"mp_wrapper\">\n  <div class=\"mepr-unauthorized-message\">\n    <p>You are unauthorized to view this page.<\/p>\n  <\/div>\n  <div class=\"mepr-login-form-wrap\">\n            \n<div class=\"mp_wrapper mp_login_form\">\n                  <!-- mp-login-form-start -->     <form name=\"mepr_loginform\" id=\"mepr_loginform\" class=\"mepr-form\" action=\"https:\/\/tietopankki.crnet.fi\/fi\/login-2\/\" method=\"post\">\n            <div class=\"mp-form-row mepr_username\">\n        <div class=\"mp-form-label\">\n                              <label for=\"user_login\">Username<\/label>\n        <\/div>\n        <input type=\"text\" name=\"log\" id=\"user_login\" value=\"\" \/>\n      <\/div>\n      <div class=\"mp-form-row mepr_password\">\n        <div class=\"mp-form-label\">\n          <label for=\"user_pass\">Password<\/label>\n          <div class=\"mp-hide-pw\">\n            <input type=\"password\" name=\"pwd\" id=\"user_pass\" value=\"\" \/>\n            <button type=\"button\" class=\"button mp-hide-pw hide-if-no-js\" data-toggle=\"0\" aria-label=\"Show password\">\n              <span class=\"dashicons dashicons-visibility\" aria-hidden=\"true\"><\/span>\n            <\/button>\n          <\/div>\n        <\/div>\n      <\/div>\n            <div>\n        <label><input name=\"rememberme\" type=\"checkbox\" id=\"rememberme\" value=\"forever\" \/> Remember Me<\/label>\n      <\/div>\n      <div class=\"mp-spacer\">&nbsp;<\/div>\n      <div class=\"submit\">\n        <input type=\"submit\" name=\"wp-submit\" id=\"wp-submit\" class=\"button-primary mepr-share-button \" value=\"Log In\" \/>\n        <input type=\"hidden\" name=\"redirect_to\" value=\"\/fi\/wp-json\/wp\/v2\/posts\/135488\" \/>\n        <input type=\"hidden\" name=\"mepr_process_login_form\" value=\"true\" \/>\n        <input type=\"hidden\" name=\"mepr_is_login_page\" value=\"false\" \/>\n      <\/div>\n    <\/form>\n    <div class=\"mp-spacer\">&nbsp;<\/div>\n    <div class=\"mepr-login-actions\">\n        <a\n          href=\"https:\/\/tietopankki.crnet.fi\/fi\/login-2\/?action=forgot_password\"\n          title=\"Click here to reset your password\"\n        >\n          Forgot Password        <\/a>\n    <\/div>\n\n      \n    <!-- mp-login-form-end --> \n  <\/div>\n      <\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<div class=\"smart_content_wrapper\">\n<p>Britain&#8217;s biggest retailers have written to finance minister Rachel Reeves to warn her that last month&#8217;s budget will make both higher prices and job losses a certainty and dent investment. The letter, coordinated by the British Retail Consortium trade body and signed by 79 retail bosses, including those at Tesco (TSCO.L), opens new tab, Marks &amp; Spencer (MKS.L), opens new tab, Sainsbury&#8217;s (SBRY.L), opens new tab, Next (NXT.L), opens new tab, Asda, Morrisons, Kingfisher (KGF.L), opens new tab, Amazon UK and Boots, called for a meeting with Reeves to discuss their concerns and work on a solution.<\/p>\n<p>The Labour government&#8217;s Oct. 30 budget statement raised employers&#8217; National Insurance, or social security, contributions by 1.2 percentage points to 15% from April next year, and also lowered the threshold for when firms start paying to 5,000 pounds from 9,100 pounds per year. It also raised the minimum wage for most adults by 6.7% from April. The letter said the UK retail industry, which has three million direct jobs and 2.7 million more in its supply chain, was facing a rise of 7 billion pounds ($8.8 billion) in annual costs from 2025 when higher business rates and the impact of new packaging levies are also taken into account.<\/p>\n<p>&#8220;It will not be possible to absorb such significant cost increases over such a short time scale. The effect will be to increase inflation, slow pay growth, cause shop closures, and reduce jobs, especially at the entry level,&#8221; it said. The retailers want the government to phase the introduction of the new lower earnings threshold for National Insurance, delay the introduction of packaging levies, and revisit and bring forward proposed changes to business rates.<\/p>\n<p>Source: <a rel=\"noopener\" href=\"https:\/\/www.reuters.com\/world\/uk\/uk-retail-warns-inflation-job-losses-budget-seeks-reeves-meeting-2024-11-19\/\">Reuters<\/a><\/p>\n<p>&nbsp;<\/p>\n<\/div>\n<p>The post <a rel=\"noopener\" href=\"https:\/\/vastuullisuusuutiset.fi\/fi\/vauen\/uk-retail-warns-of-inflation-and-job-losses-from-budget-seeks-reeves-meeting\/\">UK retail warns of inflation and job losses from budget, seeks Reeves meeting<\/a> appeared first on <a rel=\"noopener\" href=\"https:\/\/vastuullisuusuutiset.fi\/fi\">Vastuullisuusuutiset.fi<\/a>.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[22],"tags":[1054,4324,579,606,607,608],"class_list":["post-135488","post","type-post","status-publish","format-standard","hentry","category-news","tag-inflation","tag-retail","tag-uk","tag-vau_viikkokatsaus","tag-vauen","tag-vaufien"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/posts\/135488","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/comments?post=135488"}],"version-history":[{"count":0,"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/posts\/135488\/revisions"}],"wp:attachment":[{"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/media?parent=135488"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/categories?post=135488"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/tags?post=135488"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}