Posted 12/14/2023, 11:54:00 AM
Currys Boss Warns Government Policies Threaten Millions of Retail Jobs
- Currys boss Alex Baldock criticizes government for increasing minimum wage and business rates, saying it shows lack of understanding/concern for retail industry
- Baldock says wage hike and expected business rates increase puts pressure on retailers, risks 3 million retail jobs
- Retailers facing £1.95 billion increase in business rates next year after temporary pandemic relief measures expire
- Currys reports 4% drop in sales, Baldock cites cost of living crisis making consumers more cautious about spending
- Consumers increasingly buying Currys products on credit offered by the company, but Baldock says Currys being responsible in lending