Boss of Beaverbrooks urges government to give businesses ‘a bit of a break’

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Beaverbrooks’ chief executive has urged the UK government to ease cost pressures on businesses as retailers brace for the October budget. The family-owned jeweller reported flat sales and a 9% decline in underlying operating profit to £7.8 million, citing higher employer National Insurance contributions and minimum-wage costs.

Jeweller reports flat sales and fall in underlying operating profit as retailers anticipate October budget Business live – latest updates The boss of family-owned jeweller Beaverbrooks has called on the government to give business “a bit of break” by halting cost increases amid flat sales and falling profits. The retailer, founded in 1919, revealed a 9% fall in underlying operating profit to £7.8m last year after an increase in employer national insurance contributions (NICs) and the legal minimum wage introduced by former chancellor Rachel Reeves. Continue reading...