The Labour party has introduced its election manifesto, proposing major changes affecting the fashion retail industry.
- A new system replacing business rates aims to create a fair balance between high street and online retailers.
- The manifesto plans to combat retail crime by introducing a specific offence for assaults on shopworkers.
- It seeks to ensure access to training, apprenticeships, and work experience for young people aged 18 to 21.
- Labour will pursue a free trade agreement with India and the GCC while seeking an EU-UK mutual recognition agreement.
The much-anticipated Labour manifesto outlines significant reforms intended to reshape the landscape of the fashion retail industry. It suggests the replacement of the current business rates system. The proposition aims to generate equivalent revenue but in a manner perceived as fairer, particularly for high street businesses. The current system has been criticised for stifling investment and imposing an excessive burden on physical retail locations. Although the details of the replacement system remain unspecified, its intent is to level the competitive field between high street and online operators and address concerns surrounding empty properties.
The manifesto further addresses the growing issue of retail crime. Labour commits to formulating a specific offence targeting assaults on shopworkers, aiming to enhance their protection in the workplace. Moreover, the party intends to eliminate what it describes as a ‘loophole’ in the current legal framework, which classifies shoplifting of goods under £200 as a lesser offence. Retail leaders have expressed concerns over this issue, advocating for unambiguous repercussions for such crimes.
Labour’s educational initiatives promise guaranteed access to training and apprenticeships, alongside job search support for young individuals aged 18 to 21. This proposal includes provisions for two weeks of work experience, reflecting an effort to bridge the youth skills gap and enhance employability prospects.
In terms of international relations, Labour plans to secure a free trade agreement with India and the Gulf Cooperation Council (GCC). Contrasting with other political stances, Labour does not intend to re-enter the EU single market or customs union. Instead, it aspires to establish an EU-UK mutual recognition agreement concerning professional qualifications, a move intended to ease cross-border professional engagements.
The Labour party’s manifesto positions itself as a catalyst for change within the fashion retail landscape, emphasising fairness, security, and skill development.
