Retail bosses have welcomed Kier Starmer, Leader of the Labour, as Prime Minister; one industry leader labelled it a “historic night for politics” while another commented that Labour now has an “overwhelming mandate for change”.
British Retail Consortium (BRC) boss, Helen Dickinson, said she was looking forward to “getting down to business” with new government and “turning commitments into delivery”.
She continued: “Labour’s manifesto made some crucial commitments for retail, from reforming business rates, planning and the apprenticeship levy, to introducing a specific offence for assaulting a retail worker, and we now await the details of how these will be taken forward.
“Labour recognised that the business rates system is broken. With retail paying 22% of the total rates bill while accounting for 5% of the economy, it is the number one thing in the way of increased retail investment which could unlock growth across the economy.”
Currys Chief Executive, Alex Baldock, commented: “Retail matters. We account for 3 million jobs and £17 billion of tax, and can play a starring role in helping the new Government power growth, jobs and prosperity for all.
“Retailers are looking for stability, of course, but also for Government to provide the conditions for growth, through better skills, infrastructure and planning. Most of all, we must urgently fix the broken, damaging and unfair burden of business rates.
AO’s Chief Executive, John Roberts, reflected upon the results and what it means for the next generation, adding the first jobs of this new government “has to be to give the nation’s kids some badly needed hope for the future.”
He added: “That means things like restoring investment in youth services with the help of private philanthropy and business, or reforming the disastrous Apprenticeship Levy.
“It’ll need fresh, long-term thinking and a willingness to empower people and organisations with proven track records to deliver.”
The reaction amongst the industry is one that recognises that now is the time to start investing into the long-term future of the UK and that they implore the party in power to address the issues impacting retail and its customers.
