‘There has to be a bolder shift’: retail and hospitality businesses assess relief in budget

Retail and hospitality businesses are assessing the relief provided in the recent budget. The Chancellor has cut business rates for more small businesses and limited the rise in minimum wage for younger workers. This move is seen as a step in the right direction, but some business owners feel it doesn't go far enough to alleviate the pressures they are facing. The increased labour costs, despite the limited wage rise, are a concern for many companies already struggling to stay afloat.

Why it matters

The budget includes measures to cut business rates for small businesses and limit the rise in minimum wage for younger workers. This could help small businesses and boost economic activity.

Market impact

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