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© 2024 Datateam Business Media Ltd. DIY Week incorporates Decor Retailing, DIY Retail Leaders, DIY Superstore, Do-It-Yourself Retailing, Domestic Electrical Appliances, Excellence In Garden Retailing, Excellence In Woodcare Retailing, Excellence In Timber Retailing, Excellence In Tile Retailing, Garden Retail Leaders, Garden Retailing, Hardware Merchandiser, Hardware Trade Journal, Homecentre, Home Storage Retailing, The Ironmonger, Ironmongery & Hardware, Lighting, Martineau & Smith’s Monthly Circular, Mercantile Guardian, Superstore Management, Tools Retailing, and Wholesale Leaders. No part of this publication may be reproduced by any means without prior written permission from the publishers. Every effort is made to ensure the accuracy of material published in DIY Week. However, Datateam Business Media Ltd will not be liable for any inaccuracies. The views expressed by contributors are not necessarily those of the editor or publishers. DIY Week is registered at Stationers’ Hall. ISSN 0954-8823. DIY Week is printed on environmentally friendly paper; both text paper and cover stock are elementary chlorine free and sourced from paper suppliers with a well planned environmental policy. This issue of DIY Week includes some editorial photographs provided and paid for by suppliers. Printed by Buxton Press.


Founded in 1874 No 5,929 - October 2024


Will the Budget benefit business?


The new UK government’s recent Autumn Budget introduces several changes that are likely to affect retail businesses, both in terms of costs and potential opportunities. One of the biggest changes is the increase in the National Living Wage (NLW) to £12.21 per hour from April 2025, along with similar increases for other minimum wage brackets. While this supports workers and could lead to increased consumer spending, it also raises operating costs for retailers who depend on a large workforce, such as retail staff and supply chain workers. Many businesses may feel pressured to adjust prices to offset these rising costs, which could influence competitiveness in an already challenging market.


Moreover, the budget includes a 1.2% increase in employer’s National Insurance contributions (NIC) from 13.8% to 15% starting in 2025. Additionally, the NIC threshold is being lowered, which means that more wages will be subject to NIC, further driving up employment costs for retail businesses. On the positive side, the government is committed to maintaining corporate tax stability with a cap at 25% and support for investment incentives, including full capital expensing and the Annual Investment Allowance, which encourages investment in new assets. Retailers considering renovations or expansion may find this beneficial as it allows them to offset capital expenditure against profits, promoting reinvestment in infrastructure or technology. In essence, while the budget aims to support workers and provides some reliefs for corporate investment, the


increased wage and NIC costs could place additional financial burdens on retailers, potentially leading to increased prices and challenging margins in this competitive sector.


In This Issue... Neil Mead, Editorial Director


P4 / NEWS


The latest headlines and breaking news from across the home improvement and garden sectors


P11 / KITCHENS & BATHROOMS


Roper Rhodes urges homeowners to switch off from the hustle of daily life by creating a spa-like sanctuary


Datateam Business Media Ltd, 15a London Road, Maidstone, Kent, ME16 8LY


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Published by P19 / WEATHERPROOFING


Garden furniture should be well protected to mitigate long-lasting or irreversible damage from the weather


P25 / HANDTOOLS


Maintaining a healthy garden during the year can be a challenge, the right tools can make all the difference


become a stockist at dktools.com


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