Many UK businesses are weighed down by a myriad of higher supply chain costs and the government must do more to limit oncoming regulatory burdens heading down the track—one of the biggest drags to retail investment—or risk a crash in business investment and further inflationary pressures, Helen Dickinson, chief executive of the British Retail Consortium, said reacting to the spring budget.

“The Chancellor understands the need to train people to re-enter the workforce, yet he missed a key opportunity to fix the issues with the Apprenticeship Levy system that would support this very goal. Over the last three years, businesses have lost £3.5 billion in unused Levy funds,” Dickinson said.

“To break this cycle of wasted investment, it is vital that [the] government allows businesses to use their hard-earned Levy funds for a wider array of skills courses. Without spending a penny, the Chancellor would increase investment in our workforce, helping businesses to prepare the UK economy for the skills it needs,” she added.

Read more about UK govt must do more to limit oncoming regulatory burdens: BRC

Explore more Textile News