Unemployment creeps up as firms cut jobs following Reeves tax raid June 10, 2025 The unemployment rate has crept up to 4.6 per cent from 4.5 per cent, official data has revealed, putting Chancellor Reeves’ ambition of growing the UK economy and getting people into work under threat. It is the highest unemployment rate in three years, with the UK economy then recovering from the pandemic. Figures released by [...]
Hospitality ranks bottom for UK wages as sector struggles with costs June 3, 2025 Hospitality workers are now the worst-paid employees in the UK as the sector continues to struggle with high costs. A combination of high energy prices, high wholesale prices and high taxes have squeezed margins in the last two years, making it hard for a sector pummelled by the pandemic to recover. Accommodation and food service [...]
Businesses face billions of extra costs as wages and tax to rise March 30, 2025 UK businesses are set to face a multibillion-pound wave of higher costs this week as higher wages and tax increases come into force. Retail and hospitality bosses have warned that higher labour costs and taxes are set to push up prices for customers across the UK. A raft of measures linked to the Labour government’s [...]
High street giants facing shareholder revolt over low wages March 27, 2025 Investor groups and City giants have teamed up to target high street giants Next, M&S and JD Sports with shareholder resolutions over their low wages. Seven institutional investors managing over £1 trillion in assets have joined the campaign, including Axa, Scottish Widows and the Greater Manchester Pension Fund. The campaign is being led by responsible [...]
M&S to invest £95m in staff pay despite higher wage taxes March 5, 2025 Marks and Spencer will invest £95m into higher pay for its retail staff, despite “cost pressures” from the government. From 1 April, the rate of pay for UK Customer Assistants will increase from £12 to £12.60 per hour, up five per cent year on year and up 26 per cent since 2022. It is higher [...]
DFS: ‘Improved performance’ couched by rising national insurance, wages and rates January 17, 2025 DFS Furniture reported its group order intake was up over 10 per cent as it gained a higher than expected market share gains for both of its brands
Pub giants allay fears of hospitality crisis despite higher wage bills January 15, 2025 Pub giants Mitchells & Butlers and Fuller, Smith & Turner have both expressed confidence as the firms adapt to higher wage bills, in a positive sign for an industry which warned of crisis last year. Mitchells, the owner of Harvester, Toby Carvery and All Bar One, reported like-for-like growth of 10.4 per cent over the [...]
Strong wage growth kills hopes of interest rate cut December 17, 2024 Analysts have warned that strong wage growth data reported this morning has killed any chance that the Bank of England will cut interest rates later this week. While the central bank had been widely expected to hold interest rates at its Monetary Policy Committee meeting on Thursday, the decision has been cemented by wages rising [...]
Workers will bear the brunt of tax rises, OBR says October 31, 2024 Workers will end up shouldering the majority of the government’s national insurance hike, the fiscal watchdog said, as Rachel Reeves admitted that pay growth will suffer due to her tax plans. The Chancellor announced tax rises worth £40bn yesterday, making it the biggest tax-raising fiscal event since 1993. Changes to employers’ national insurance made up [...]
Sky Bet: Profit slides as inflation and salary rises bite October 28, 2024 Profit at Sky Bet was slashed during its latest financial year as its operating expenses surged by almost £45m. The business behind the brand, which is owned by Flutter Entertainment, has reported a pre-tax profit of £48.9m for 2023, according to newly-filed accounts with Companies House. Its profit was hit because the firm’s operating expenses [...]