According to the British Retail Consortium (BRC) the retail sector has lost 85,000 over the last year. The BRC has demanded that the government acts to support Britain’s struggling retailers.
The government has provided some support as a financial support package worth £1bn to help failing shopping areas across the UK to reinvent themselves.
Footfall is at its lowest since 2018, which is an indicator in consumer confidence, particularly as consumers are shopping more online.
Brexit uncertainty, rising business rates, rents and minimum wage rise has also hit the retail sector hard.
Helen Dickinson the BRC chief executive said, “Weak consumer demand and Brexit uncertainty continue to put pressure on retailers already focused on delivering the transformation taking place in the industry.
“While MPs rail against job losses in manufacturing, their response to larger losses in retail has remained muted.
“The government should enact policies that enable retailers to invest more in the millions of people who choose to build their careers in retail.
“In order to promote innovation, training and productivity, government must reform both the broken business rates system, and the inflexibilities of the apprenticeship levy.”
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