The Liberal Democrats have released their manifesto for the upcoming British General Election, to be held on 4 July 2024, and the British Retail Consortium (BRC) has responded to the party’s plans.
The Lib Dem’s promises to reform business rates and apprenticeships, and address crime levels, could significantly impact the UK retail industry.
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Optimism on business rates
The Lib Dem manifesto declares the party’s intentions abolish business rates and replacing them with a Commercial Landowner Levy to ‘help high streets’.
By focusing on small businesses and stimulating local jobs, BRC chief executive Helen Dickinson stated that the party’s plans could “breathe new life into our towns and city centres.”
“Retailers will want to see the details of the proposed commercial landowner levy to understand how it would affect tenants and landowners.”
The BRC states that it is “essential” that any replacement to rates “brings down the burden on retail to unlock vital investment in the economy.”
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By GlobalDataDickinson pointed out that the lengthy timeframe for this reform would need the current multiplier to remain frozen in the interim.
Reforming apprenticeships
The Lib Dems are promising to invest in more apprenticeships and new lifelong skills grants with a broader and more flexible skills and training levy.
This reflects calls from the BRC to reform the current apprenticeship levy. Dickinson asserted that “currently, retailers are unable to draw upon all the funds they are contributing to the rigid apprenticeship levy.
“It is vital that the system is made more flexible to allow retailers to invest in pre-employment courses, short courses encompassing functional and digital skills, and other advanced courses that will address the UK’s growing skills gap.”
Silence on retail crime
Under crime and policing in the manifesto, the Lib Dems are aiming to address staff shortages, youth violence and fraud, but fail to mention any impacts on the retail industry.
“With daily stories of retail colleagues being attacked or abused in their place of work, or businesses falling victim to thousands of pounds of theft, it is disappointing that the manifesto made no mention of retail crime,” stated Dickinson.
The BRC has also responded to the Conservative Party’s manifesto, pointing out major concerns about the party’s plans.
