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26 Jan 2023

The rapid growth in the use of Buy Now Pay Later (BNPL) services risks becoming the UK's next 'credit trap' scandal, a loan provider has warned.

25 Jan 2023

Under the banner of CONEBI, the Confederation of the European Bicycle Industry,15 national bicycle industry associations and 68 companies have become signatories to a self-commitment to prevent...

23 Jan 2023

As Glasgow gears up to host the 2023 UCI Cycling World Championships, community groups have been given a share of more than £160,000 to boost bike use in the city.

23 Jan 2023

British Cycling has published new research, which shows the rising popularity of off-road e-bikes and electric mountain bikes (e-MTB’s) and highlights the need for improvements to cycling...

18 Jan 2023

The article reports that, in 2021, Halfords saw its annual cycling sales double and stocks dry up. However, by the middle of 2022, it says, warning signs were appearing as inflation and supply...

16 Jan 2023

Weston-super-Mare seems to be one town in the UK bucking the national trend, with new shops opening and businesses reporting an increase in trade, according to a report by Bristol Live.

12 Jan 2023

New banknotes featuring King Charles are to enter circulation by mid-2024. The King’s portrait will appear on four polymer banknotes (£5, £10, £20, and £50)....

12 Jan 2023

The government has announced it is to scale back support for businesses and their energy bills after warning that the current level of help was too expensive.

10 Jan 2023

With retail finance schemes remaining a preferable route for retailers to boost sales during recession than the financial hit required by heavy product discounting, the Association of Cycle...

10 Jan 2023

Portugal has become the first EU country to cut VAT on bicycle purchases this year, from 23% to 6%.

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Mary Portas warns government to act now or see half of high street shops shut

Posted on in Business News , Cycles News

Ahead of the Chancellor’s Autumn Statement this week, retail expert Mary Portas called on the Government to rethink business rates and VAT to help struggling retailers.

She said: “Put simply we could lose half of all shops. We need to look at the systems they are currently working under, because they are not fit for purpose for the future.

Row of Bikes

“So VAT, business rates, all of it needs to be looked at. We need to look at the bigger picture and how people want, and need to live, in the future – for the good of themselves and the planet.”

In 2011, she published a report stating the aim was to “put the heart back into the centre of our high streets, calling on the authorities to re-imagine them “as destinations for socialising, culture, health, wellbeing, creativity and learning.” But she says nothing has changed in the past decade and without more support thousands of small shops will be lost during the cost-of-living crisis.

“It’s no different now to 11 years ago when I brought out my report,” she says. “As for big business and governments, people don’t trust them, they’ve had enough. We want what’s local, what’s safe and what we can trust.”

She added: “What’s inspiring, but at the same time frustrating, is everything I wrote in my report more than a decade ago, about how important high streets are to our society and our daily lives, is the same.

“They’re more important than what is being sold to us. People, particularly post-Covid, realise how important they are to their wellbeing and how they live. Having thriving high streets we can walk or cycle to for our daily needs is vital to our future.”

She praised “incredible independents” which make up 90% of high street businesses but admitted frustration because “all we talk about are big businesses”.

She said: “Small businesses have been hugely successful, and we need them to succeed. When it comes to budgets and government spending, I believe it needs to be about prioritising. And I happen to think we should prioritise the wellbeing of society.”

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