𝓤𝓷𝓲𝓽𝓮𝓭 𝓝𝓮𝔀𝓼

Chancellor Rachel Reeves has been urged to ease tax burdens following a significant decline in footfall among shoppers. Concerns over shop closures arose after a decline in foot traffic last month. This comes after Reeve’s Budget last year, when tax measures of an additional £5 billion in employment costs were added for the retail sector.

Rachel Reeves has been warned that 60,000 small shops and 150,000 jobs are at risk if business rates reform is not included in her upcoming Budget. New research by Opinion Matters found that one in eight small high street business owners said they would be at risk of closure if the changes are not implemented, and 10% said they would be forced to lay off staff.

Some of the UK’s most popular shopping streets faced the brunt of fewer shoppers, with a total of 2.5% fewer visitors last month, reports GB News.

In August, high streets saw 1.1% more shoppers, which shows the extent of the decline in visitors in September.

Figures show the downturn impacted every nation in the UK, with Northern Ireland seeing the smallest decrease at 0.5%. In England, footfall dropped by 1.8%.

As for Scotland, a larger decline of 2.3% was observed, and in Wales, a significant 2.5% drop occurred compared to September 2024.

Helen Dickinson, Chief Executive of the British Retail Consortium, says: “Retailers’ ability to invest in local communities and high streets has been hampered by last year’s Budget, which added £5billion in employment costs to the industry, in addition to a new packaging tax.”

She adds: “For retailers to invest in shopping destinations that will entice shoppers back, the Government-imposed cost burdens holding back that investment must be lifted.”

Helen says the upcoming Budget is a key moment for the Chancellor to consider the impact on the retail sector and make changes.

The Budget statement outlines the Government’s plans for raising or cutting taxes. It also involves significant decisions about spending on public services, such as health, education, and law enforcement.

The statement is made to MPs in the House of Commons and usually begins at around 12:30, lasting for approximately an hour. The Budget will take place on November 26.