Labour Party

Gloom Spreads Across UK Retailers Following Budget Tax Rises – CBI

British retailers’ optimism has fallen to a two-year low following the UK's budget, the Confederation of British Industry has said.

UK shoppers face renewed pressure on their budgets in October as inflation edged higher for the second month in a row, according to Kantar.

British department store John Lewis is “quietly optimistic” about trading in the run-up to Christmas, the executive director Peter Ruis said.

British shoppers impacted by the cost of living crisis will not start spending again until the new government sets out tax and spending plans.

British retail sales rose by a stronger-than-expected 1% in August and growth in July was revised up, official figures showed on Friday.

The UK Supreme Court has ruled that Tesco could not terminate some employees’ contracts and rehire them for lower pay, RTÉ reported.

Irish consumer sentiment reached its best level in two and a half years in July, though no dramatic change indicated a general optimism.

Confidence among Britian’s consumers edged up to its highest point in almost three years, according to the GfK consumer confidence survey.

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