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BRC responds to Spring Budget 2023 T


he British Retail Consortium said that in the face of volatile demand


caused by high inflation and low consumer confidence, measures to support households with the cost of living, such as the ongoing energy bill support and changes to childcare costs, are welcomed. Responding to the Chancellor’s Spring Budget, Helen Dickinson, chief executive of the BRC, said: “However, many businesses are weighed down by a myriad of higher costs right through the supply chain. Government must do more to limit one of the biggest drags to retail investment, which is oncoming regulatory


“While the Autumn Budget brought in some


welcome changes to the Business Rates system, further reform is needed.” Ms Dickinson said the “broken Business Rates


system” remains a drag on business investment, jobs, and economic growth. “Rates must be paid in full whether firms are


burdens heading down the track, or risk a crash in business investment and further inflationary pressures.


Miele increased turnover by 12.2% in 2022 M


iele has reported a 12.2% increase in sales to €5.43 billion (£4.83bn) for


2022. The company said that it sold more units than


ever before, despite fragile supply chains and a decline in markets overall. With 23,322 employees, Miele reported the


largest workforce in its history and said that in 2022, substantial improvements were achieved by it in the field of climate protection, including the increased use of solar power, ‘green’ steel and co-operations centred on electromobility, as well as improvements in the energy efficiency of appliances.


Despite fragile supply chains around the


world, Miele said it was able to continue production at a high level without ‘noteworthy’ interruptions throughout the year. Talking about its business around the world,


Miele said above-par contributions from eastern European and Asian markets, including China, but long-standing markets such as Australia, Great Britain, the Netherlands and the USA gave a good hand, too. Among the product groups for households,


above all dishwashers, laundry care appliances and cooking products performed above average, boosted by the first IFA trade show since 2019


UK consumer confidence in surprise rebound from historic lows


Joe Staton, client strategy director, GfK, said: G


fK’s long-running Consumer Confidence Index increased seven


points in February to -38; all five measures were up in comparison to the January 20 announcement.


6 | www.ierdaily.co.uk


“Despite widely reported headwinds of inflation continuing to outstrip wage rises, and the ongoing household challenge from the cost-of- living crisis, consumers have suddenly shown more optimism about the state of their personal finances and the general economic situation, especially for the coming year. “While it’s too early to talk about ‘green shoots of recovery’, the uptick across all measures should be welcomed. But what’s happening? Are people simply fed up with hearing bad news? Do they see a milder recession than the pundits predicted? Do they sense the most worrying phase of the energy


crisis is over?” Mr Staton continued: “The headline consumer confidence score is still severely depressed and the mood as well as the economy remain a long way off pre-lockdown levels, but a little consumer resilience might be what we need to soften any downturn in 2023. “However, many challenges remain and this


may be nothing more than a bubble of hope – and bubbles always burst.”


March/April 2023


with Miele’s focus on energy efficiency and cooking with artificial intelligence. For the first time ever, Miele produced


more than one million washing machines and dishwashers each in a single calendar year. Vacuum cleaners, refrigeration products and


coffee machines, all of which profited in a major way from the Covid-induced boom in 2020 and 2021, saw turnover increase in 2022, Miele said.


making a profit or a loss,” she said. “This makes Business Rates the final nail in the coffin for many struggling stores; shutting shops, costing jobs and preventing new stores openings. “The Chancellor should make good on the


Conservative 2019 pledge to reform Rates and lay out a clear roadmap for future reforms.”


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