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WWW.DIYWEEK.NET Chancellor delivers ‘business-friendly’ budget

Following Chancellor Philip Hammond’s budget statement, responses have been made regarding various key points that will impact the DIY retail industry.

In brief, living wage is up to £7.83 an hour from £7.50, £3billion has been set aside for Brexit preparations, a £2.3billion cost in business rates will bring forward the change to Consumer Price Index from Retail Prices Index by two years to 2018, a further policy on plastic waste has led to further investigation on reducing waste, which could mean a tax on single-use plastic items, such as packaging, as well as the 5p plastic bag charge and £44billion capital investment to

boost the housing market over the next five years.

British Retail Consortium (BRC) chief executive Helen Dickinson OBE, commented on the move from RPI to CPI indexation which will be brought forward by two years to 2018, she said: “This is a hugely welcome and positive move. From being caught in a web of competing pressures from all parts of the economy, limiting the scope for action, it’s clear that the Chancellor has listened to the retail industry and the growing chorus from across business and commercial life who have spoken up in favour of action to mitigate rising rates bills. Crucially, this relief will unleash investment that retailers want to direct towards the needs of their customers.

This will be particularly critical at a time when shoppers’ disposable income is being squeezed further and the growth projections for the economy have been downgraded.”

Federation of Small Businesses (FSB) national chairman Mike Cherry said: “Overall, this is a business-friendly Budget. The Chancellor’s vision for an inclusive economy includes a set of measures that will boost confidence across the small business community as they face extremely challenging trading conditions.

“1.5 million modest-earning small firms and the self- employed will be relieved that we have seen off a VAT tax grab that would have caused huge

economic damage. Instead, FSB is ready to work with the Treasury to simplify an over- complicated tax that on average takes a business a whole week to administer every year. The Confederation of British Industry (CBI) director-general, Carolyn Fairbairn said: “Action on business rates, R&D tax credits, the National Productivity Investment Fund and Brexit planning will help firms to invest and grow today against an uncertain Brexit backdrop. “And by making the most of tomorrow’s technologies, including increasing investment in R&D and fueling innovation the Government will help create a virtuous circle by drawing in private sector funding.

Momentum builds for DIY Week Awards

Key sponsors are getting behind the leading industry awards event, with the likes of Burg Wachter/Sterling, Home Hardware Southwest, The British Home Enhancement Trade Association (BHETA), Sam’s Trade Centre, Stax Trade Centres, and Decco having already signed up to sponsor the event, and more major names set to be revealed shortly.

The 2018 DIY Week Awards will take place at lunchtime on Friday, May 11 at the Park Plaza Victoria Hotel in London. Guests will enjoy a drinks

reception, followed by three- course meal and entertainment, as well as the all-important awards presentations.

The event is the perfect opportunity to network with the cream of the home improvement

and garden sector and, for those lucky enough to be shortlisted for an award, it provides the perfect platform to showcase your business or product and reward the people that are integral to the success of your company.       supplier and product categories can finally be revealed and includes buyers from top multiples and high street

names, as well as award-winning independents.

Meanwhile, the judging panel for our retailer categories

boasts industry consultants, in-store marketing specialists, and respected industry figures. Turn to page 13 for more information about the names on this years’ expert panels.

Find out more about putting

your retail business, team, product or initiative forward for a DIY Week Award, go to

p18 p6

“The challenge now is to

turn words into action. For Government and business, this starts next week with the Industrial Strategy.”

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