Budget Briefing July 2015

The ALMR has just produced a briefing document on today's Budget which can be found here: ALMR budget briefing July

One significant announcement for our sector is that a National Living Wage will be introduced for workers of 25 and over which will commence in April 2016 at a rate of £7.20 but will climb to 60% of median earnings by 2020.

The other announcement of possible particular significance to our sector and supermarkets in particular was the much trailed announcement that to ensure that local areas have a greater say over their own economies, the Government will consult on devolving powers on Sunday trading to city mayors and local authorities. This will look at allowing mayors or councils to extend Sunday trading for additional hours within parameters that they would determine.

Update – 9 July 2015 – A House of Commons Library briefing paper with a summary of the Summer Budget 2015 has now been published. It includes the Office for Budget Responsibility's (OBR) forecasts for the economy and public finances and can be found here: "Summer Budget 2015: A summary"