With the Autumn Statement a few days away, Convenience Store spoke to retailers about their hopes for the autumn Budget.
Nisa retailer Amit Putambekar (above) isn’t feeling optimistic. “I fear our industry is going to get screwed by this budget,” Amit confessed. He says his fear is that any announcement will favour larger businesses and that a ‘one size fits all’ approach will not work. “It will disproportionately affect small business, but all I’m hoping for is that it is not as bad as what’s been leaked.”
He adds that he has been reading reports in the financial press that hint at the astronomical sums any decisions might mean for the smaller retailer, and says he is – perhaps understandably – very concerned. “Policy is being made by people who have no experience of actually working outside of politics or of running a business.”
As a very worst case scenario, Amit hopes the new Government will at least make in-roads in the battle against retail crime. “All we can hope for is that Labour help us tackle crime, because they don’t care if we survive as a business. They’re making political choices, and if you look at their donation trail, it will be to support large enterprise,” he says.
Sue Nithyanandan (left), manager of the Costcutter in Epsom on the other hand, has high hopes for the budget announcement.
“I’m expecting the budget to bring back the ’feel-good factor’ which was returning after the period of pandemic and very high energy costs this summer,” she says.
“The higher taxation, which is inevitable, has to be evenly carried by the public and private sector though. Any difference will have an impact on investment and optimism for our sector and the country as a whole.”
But Sue still advises caution. “The small to medium enterpirses in the UK I’m afraid are going to carry the brunt of the cutbacks to balance the budget deficit,” she says. “These are the engines of the economy and the Chancellor will be making a big mistake if she doesn’t recognise that.”
Like Amit, Sue is also hoping the business rate relief scheme can be held onto. “I hope Rachel Reeves doesn’t remove the rate relief we currently enjoy at 75% and dilute it just to please big corporates,” she says.
Meanwhile, Julie Kaur (right), who runs an independent store in Telford, is hoping for some tangible effects from the budget. “Hopefully there will be no increase on tobacco products or alcohol lines,” she says.
In line with the other retailers we spoke to, Julie says she would also hope that the budget will take her size of store into account. “I hope it will look after the smaller retailer, and it would also be good if the Government could look at wellbeing too,” she adds.
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