2 weeks agoNews PlusComments Off on Warning as further tax rises are on the cards to meet fiscal rules, economists say
FURTHER tax rises are on the cards to meet fiscal rules, economists have warned.
Borrowing costs hit their highest level for almost 17 years yesterday amid a continued sell-off in the bond market.
The yield on ten-year gilts, which reflect borrowing costs, hit 4.81 per cent, the highest since 2008.
Kallum Pickering, at brokerage Peel Hunt, said: “If bond yields rise further, the Chancellor may be forced to make the economically damaging decision of further increasing taxes or cutting back on planned public spending.”
The PM’s spokesman said: “Having stability in public finances is precursor to economic growth.”
Shadow chancellor Mel Stride said: “We shouldn’t be raising taxes to pay for fiscal incompetence.
“Labour’s decision to allow debt to continue rising ever higher leaves us vulnerable even to small changes in markets.”
The yield on 30-year gilts was last so high in 1998 when Tony Blair was PM during financial crises worldwide.
They are trading higher now than after former PM Liz Truss’s mini-Budget, as the markets bet against UK growth prospects.
GettyFurther tax rises are on the cards to meet fiscal rules, economists warn[/caption]
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2 weeks agoNews PlusComments Off on Suzuki Jimny отримав недорогу заряджену версію
У Suzuki Jimny 2025 модельного року з’явився потужніший спортивний варіант. Мініатюрний позашляховик доопрацювали в Австралії і зробили потужнішим. Про це повідомляє сайт Carscoops. Тюнінг Suzuki Jimny виконала компанія Harrop Engineering. Його 1,5-літровий бензиновий двигун доповнили механічним компресором та інтеркулером, а також переналаштували його електронний блок управління. У результаті першого рівня доопрацювання потужність зросла зі 102 до 136 к. с., […]
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2 weeks agoNews PlusComments Off on Beloved shoe shop chain to shut store after 40 years on the high street
A BELOVED shoe shop chain is set to shut one of its stores after 40 years on the high street.
Blunts Shoes announced its store on Granby Street in Leicester’s city centre will close at the end of March.
AlamyBlunts Shoes in Leicester is closing after 40 years of operation[/caption]
The footwear chain was first established in 1865 and had operated the store in the heart of the East Midlands’ largest city for four decades.
It made the announcement in a post on Facebook that read: “After 40 wonderful years, we are sad to announce the closing of our Blunts Shoes Leicester store.
“It has been an honour to serve this community, and we are truly grateful for your support and loyalty over the years.
“Please continue to support us at our Blunts Shoes Leicester Store which is confirmed to close at the end of March.”
The firm’s head office in Kidderminster, Worcestershire, said that footfall had been a factor in the decision to close the store.
Fans of the shop were quick to express their sadness, commenting under Blunts’ Facebook post.
Many described the announcement as “sad news”, tagging their friends to share the message.
The chain operates 10 other stores across the region under both the Blunts name and as United Footwear.
Pop star James Blunt had brought the store to fame after he previously joked about it ahead of a performance in the city in 2023.
This comes as a string of high street chains announced the closures of stores across the UK at the start of 2025.
The Body Shop, for example, has said it will pull down the shutters on five stores in areas across the UK this month.
Stores in Exeter, Plymouth, Horsham, Norwich, and Sheffield will all be shutting their doors for the final time on 15 January.
Popular supermarket Waitrose has also announced one of its sites in Hall Green, Birmingham will close permanently on 14 January after being open for more than half a century.
Waitroseclaimed that “despite the best efforts” they were ultimately unable to find a way to “make the shop commercially sustainable.”
New Look has also confirmed one of its branches in Wickford, Essex will close in a matter of weeks amid rumours the chain is accelerating its mass store closure plans.
Thestore will welcome in customers for the final time on 24 January in a blow for the high street.
Why are retailers closing shops?
EMPTY shops have become an eyesore on many British high streets and are often symbolic of a town centre’s decline.
The Sun’s business editor Ashley Armstrong explains why so many retailers are shutting their doors.
In many cases, retailers are shutting stores because they are no longer the money-makers they once were because of the rise of online shopping.
Falling store sales and rising staff costs have made it even more expensive for shops to stay open. In some cases, retailers are shutting a store and reopening a new shop at the other end of a high street to reflect how a town has changed.
The problem is that when a big shop closes, footfall falls across the local high street, which puts more shops at risk of closing.
Retail parks are increasingly popular with shoppers, who want to be able to get easy, free parking at a time when local councils have hiked parking charges in towns.
Many retailers including Next and Marks & Spencer have been shutting stores on the high street and taking bigger stores in better-performing retail parks instead.
Boss Stuart Machin recently said that when it relocated a tired store in Chesterfield to a new big store in a retail park half a mile away, its sales in the area rose by 103 per cent.
In some cases, stores have been shut when a retailer goes bust, as in the case of Wilko, Debenhams Topshop, Dorothy Perkins and Paperchase to name a few.
What’s increasingly common is when a chain goes bust a rival retailer or private equity firm snaps up the intellectual property rights so they can own the brand and sell it online.
They may go on to open a handful of stores if there is customer demand, but there are rarely ever as many stores or in the same places.
AlamyMany stores have closed due to the rise in online shopping reducing their footfall[/caption]
У Suzuki Jimny 2025 модельного року з’явився потужніший спортивний варіант. Мініатюрний позашляховик доопрацювали в Австралії і зробили потужнішим. Про це повідомляє сайт Carscoops. Тюнінг Suzuki Jimny виконала компанія Harrop Engineering. Його 1,5-літровий бензиновий двигун доповнили механічним компресором та інтеркулером, а також переналаштували його електронний блок управління. У результаті першого рівня доопрацювання потужність зросла зі 102 до 136 к. с., […]
