BRC responds to announcement of Rishi Sunak as next Prime Minister

Helen Dickinson, Chief Executive at the BRC, said:

“We congratulate Rishi Sunak on becoming Conservative Party Leader and the next Prime Minister of the United Kingdom. He takes office during one of the most challenging economic periods consumers have known. With consumer confidence at historically low levels, he will need to provide certainty to households and support them through the cost of living crisis.

“Retailers are playing their part in supporting their customers, shielding them from the worst of rising costs resulting from a weaker pound, tight labour market and war in Ukraine. However, these efforts are threatened by the £800m bombshell of additional business rates that will hit retailers in April – a 10% rise that far outstrips sales growth over the last year. To support consumers at this difficult time, government should freeze business rates and reform the broken transitional relief system, or it will be households that pay through higher prices.”