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Scottish Sun
21 hours ago
- Business
- Scottish Sun
Major change coming to Tesco stores as company trials new opening hours after Rachel Reeves' tax raid
Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) TESCO is trialling new opening hours in a major change following soaring costs after Rachel Reeves' tax raid. The supermarket is testing out new hours in a bid to cut staffing costs. Sign up for Scottish Sun newsletter Sign up 3 Tesco CEO Ken Murphy previously slammed the changes in the Budget Credit: Reuters 3 It is unclear how many stores will be in the trial Credit: PA Workers were told that a few of the Tesco Express stores which don't rake in as much cash will be the testing grounds. These Tesco stores will shut an hour earlier, at 10pm instead of 11pm. They will also have fewer staff working during these hours, The Telegraph reported. It is understood that the trial is only taking place in a "small number" of stores, but the exact number is unclear. A spokesperson said the shake up is to ensure the shops are being run in the "most efficient way". The move comes after Tesco's chief executive said that the supermarket is facing a wave of soaring costs following the Chancellor's tax raid in April. Tesco said it was facing a rise in staffing costs, in part due to a £235m increase in National Insurance contributions and the rise in minimum wage. The chain previously warned it would be axing £500million of costs to tackle this. Retailers are believed to be facing around £7billion in extra costs following the Budget. A Tesco spokesperson said: "These changes aren't visible to our customers, who will continue to receive the same great service they expect, and there are no changes to the range of products we sell." The basic wage for workers aged over 21 increased from £11.44 to £12.21 — instantly hiking staffing costs. But most firms are more concerned about the dramatic changes to employers' National Insurance Contributions, which will make hiring even tougher. Companies have warned that the changes are to drastically impact part-time workers, soon to become 13 per cent more expensive overnight. The contributions will go up from 13.8 per cent to 15 per cent from April 6, but the main impact comes from lowering the threshold it starts being paid at from £9,000 to £5,000, roping in many more part-time staff. One FTSE chief executive told The Sun that it was 'completely the wrong strategy for the Government to be pursuing if they want to encourage more people back into work with flexible jobs'. Meanwhile, a slew of reports suggest companies are already cutting jobs, freezing hiring and preparing to hike prices, with inflation predicted to hit 3.5 per cent later this year.
Daily Mirror
2 days ago
- Business
- Daily Mirror
High street chains closing stores in June including Trespass, Iceland, and Game
The British high street has suffered over the last few years. Reduced footfall and higher costs have forced many retailers to tighten their belts and close some of their brick-and-mortar sites Five major retailers will be closing sites this month - with some set to shut more than one. The British high street has suffered over the last few years. Reduced footfall and higher costs have forced many retailers to tighten their belts and close some of their brick-and-mortar sites. However, it is always important to note that some retailers close sites for other business reasons and not because they are struggling financially. Some close because the tenancy has come to an end on the site, or that the branch is not as profitable as others. According to recent data from the Centre for Retail Research, around 13,479 high street stores closed for good last year, a 28% increase from the previous year. It estimates that around 17,350 stores will close this year as businesses face higher National Insurance Contributions (NICs) and increases in th e national minimum wage from April. Sadly, the closures are coming earlier, with a handful of popular high street chains closing sites this month. Here we have listed all of the retailers with sites pulling down shutters over June. Trespass Trespass will be closing one of its high street stores at the end of next month. However, shoppers don't need to be disapointed as the closure comes as the site is set for refurb. Trespass is known for selling sports clothing, camping gear and outdoor accessories. The retailer's store in Abergavenny - based on Cibi Walk - is set to close on June 30, with signs having been placed in the window saying "all stock must go". The refit is expected to be conducted over the summer, however a new opening date has yet to be confirmed by the retailer. According to its website, Trespass has around 300 stores worldwide, with the majority of those stores based in the UK. Game Game is closing its Trafford Centre store in Manchester this month. However once again shoppers do not need to be disapointed as the closure comes as a new Game store has opened nearby. The gaming retailer - which is on the mall's Lower Peel Avenue - has put up signs telling shoppers the store is closing down and "all stock must go". The reason for the move is because a new Sports Direct store has just opened across the bridge at Trafford Palazzo, and just like the Manchester Arndale store, it's also got a Game store included. The exact date for the closure has not been confirmed however, it will be closing at some point this month. A spokesperson for The Trafford Centre said: "Game has relocated to the new Sports Direct store at Trafford Palazzo, and we wish them well in their new home. We're always working hard to bring new and exciting brands to Trafford Centre, offering our visitors the best possible experience. "We're currently in discussion with a number of retailers and will be in a position to announce which brand will be going in the former Game store in due course." Iceland Iceland will be closing its supermarket store in Margate on June 21. The frozen food retailer - which has around 900 stores across the UK - has been in the site in College Square for the last decade. The reason for the closure has not been confirmed, however, Iceland has said that staff working at the store have been offered jobs in other areas of the business. On the closure, a spokesperson said: "We can confirm our Margate Iceland store will close. Our store colleagues have entered into a consultation process and have been offered opportunities at surrounding stores where possible." Original Factory shop The Original Factory Shop has been struggling in recent years and has said it will have to close some of its loss-making stores as part of a restructuring plan. The next two locations to close will be the retailer's branches in Pershore and Normanton. Both will be closing on June 28. The Normanton store said in a Facebook post: "We as a store regret to inform you all that the store is closing down on 28 June. Live from today we have up to 30% off in store." The Pershore store also announced its closure in a Facebook post, saying: "We regret to inform you that the rumours are true. The Original Factory Shop Pershore has served you for 30+ years and will be closing its doors for the final time on 28 June." It has also been reported that the retailer's Peterhead store is also due to close in June, although no exact date has been given. The location has been listed for rent and staff have confirmed its upcoming closure. Holland and Barrett The Holland and Barrett store in Inverness is set to close this month. Signs have been put up in the store saying: "'We're sorry this store is closing soon but you can still shop at Holland and Barrett sells a range of vitamins, supplements, sports nutrition, beauty, gluten free and vegan foods. According to local reports, the store - which is located at 34 Eastgate - is set to close as the lease is coming to an end. However this has not been officially confirmed by the health retailer. The official date of the stores closure has also not been confirmed, however locals believe it will be this month due to the "closing soon" signs in-store.
ITV News
3 days ago
- Business
- ITV News
Wales' public services face £36m shortfall after National Insurance hikes
The Welsh Government says it won't get enough money from the UK Government to offset all of the impact of higher National Insurance costs for public services. Ministers say there'll be a £36m shortfall even after they've raided reserves. The UK Government says it's 'boosted' the Welsh Government's spending power by lifting limits on use of reserves on top of 'a record £21bn' budget. Employers have been paying more National Insurance Contributions (NICs) since April after the Chancellor announced the increase in her budget last October. The UK Government had said it would ensure funding for the Welsh Government to cover the cost of the increase for public sector organisations such as hospitals, local authorities and schools. Welsh Ministers have been concerned about the method the UK Treasury is using to calculate that amount. It relies on the Barnett Formula - a method used to work out how much funding Wales should get based on spending in England. But because the public sector is bigger here in Wales than across the border, Welsh ministers argued that using the formula in this instance would leave Wales shortchanged. Now the Welsh Government says it's had final confirmation of the figures. It says that the increase in NICS will cost the public sector here in Wales an extra £257m. The UK Government is providing £185m, leaving a shortfall of £72m. The Welsh Government says it will find half of that amount, £36m, from its own reserves. But it says that still leaves a gap of £36m. Finance Secretary, Mark Drakeford, said: "We're protecting our vital public services by using £36m from our reserves to help address the National Insurance shortfall left by UK Government. "The UK Government did provide funding, but this falls short of the actual costs faced by Welsh public services, creating a multi-million-pound gap every year. "We have stepped in to help as much as we can, but the Welsh Government cannot afford to cover the entire shortfall. "The UK Government should treat the public sector the same across the UK and make good on its pledge to fully fund these extra costs." A UK Government source said: "The Welsh Government's spending power has been boosted by the UK Government's decision to waive their reserve draw down limits for 2025-26. "This increased spending power came on top of more than £180m extra to compensate for public sector national insurance contributions, and a record £21bn financial settlement at the Autumn Budget, the largest in the history of devolution. "UK Government did this to help the Welsh Government invest in public services and drive down NHS waiting lists. Together, we are delivering our Plan for Change in Wales by fixing our NHS, creating thousands of well paid jobs, boosting the minimum wage, and investing billions in our high streets and public services." It's another source of tension between the Labour Welsh Government and the Labour UK Government. Earlier this week the First Minister called for the two-child benefit cap to be scrapped. Eluned Morgan told ITV Wales: ''We are really concerned about levels of child poverty in Wales and we have called on the UK Government to lift the two tier child benefit cap. "We think this should be considered in future budgets and we have made that case to the Prime Minister as I did last week in London." Ahead of that meeting, Eluned Morgan told ITV Wales that Keir Starmer should 'start coughing up' to make up for areas where Wales has been shortchanged. She added: "I'll obviously be taking that opportunity to really push the case for those things that I outlined in my Red Welsh Way speech, making sure that we get a fairer deal on things like the railways and coal tips and other issues that are absolutely top of my agenda, where we think we've been hard done by in the past and we want them to make up for it." Is a cash boost for railways coming down the tracks? There have been reports today that there will be significant extra funding for at least one of those demands: railways. The Chancellor Rachel Reeves will set out long-term spending plans in her Spending Review on June 11th. The Politico website says it's been told that the plans will include capital funding for Wales which is aimed at improving rail infrastructure. UK Government sources have dismissed the report as 'speculation' but say that rail spending in Wales is a top priority for the UK Government as has been repeatedly highlighted by the Welsh Secretary Jo Stevens.
Daily Mirror
5 days ago
- Business
- Daily Mirror
DWP State Pension changes to help Brits receive 'higher' payments
The full new State Pension currently stands at £230.25 per week, which is around £11,973 for the 2025/26 financial year alone The UK Government has announced an upgrade to the 'Check Your State Pension' online service in a bid to help Brits get full State Pension payments when they retire. At present, the full new State Pension stands at £230.25 weekly, adding up to around £11,973 throughout the 2025/26 financial year. Qualification for the State Pension is linked to National Insurance Contributions (NICs), with a minimum of 10 years' worth to be eligible for any pension sum and about 35 years for the full rate. Extra years might be necessary if you were 'contracted out' - with in-depth information accessible on here. The Check Your State Pension forecast service enables anyone to make voluntary National Insurance contributions to bridge any gaps in their NIC history. Treasury minister James Murray says the planned amendments will improve the user experience. In a written statement to Parliament, the minister recently outlined a series of new simplified measures and updated guidance for the self-employed. It is also for those paying the High Income Child Benefit Charge, and anyone who wishes to maximise their State Pension by purchasing voluntary National Insurance Contributions. "The government also intends to further enhance the Check Your State Pension forecast service, which supports people who want to pay voluntary National Insurance contributions to fill gaps in their National Insurance record," the statement from April 28 reads. "These measures build on the government's announcement at Spring Statement 2025 that from Summer 2025, employed individuals who become liable to the High Income Child Benefit Charge (HICBC) will be able to opt to pay HICBC directly through PAYE, without the need to register for Self Assessment." The State Pension age will rise from 66 to 67 for both men and women between 2026 and 2028, with a subsequent increase to 68 expected to be implemented between 2044 and 2046, according to the Daily Record. This implies that people born between March 6, 1961, and April 5, 1977, will be able to start claiming their State Pension as soon as they reach the age of 67. However, a recent study by Just Group has highlighted a worrying trend. Over a third of retirees did not check their State Pension forecast before retiring, even though for 1.2 million households, the State Pension constitutes the primary source of income during retirement. The survey, which questioned more than 1,000 people either already retired or approaching retirement age, revealed that 38% had not looked at their pension forecast. This figure increased to 40% among those aged 55 to 64 who were yet to reach State Pension age, and 46% among early retirees. Among those who did examine their prospective State Pension income, about 17% found out that it would be at least £250 less per year than they had expected. On the flip side, 9% were pleasantly surprised to discover that their pension would be higher than anticipated by a similar margin. Commenting on the findings, Stephen Lowe, group communications director at Just Group, said: "It's easy to see why people may assume they'll simply get the full State Pension, but for many people this won't be the case. The last thing these households need when they come to retire is the nasty surprise that their State Pension is less than they thought. "The government offers a State Pension forecast service and we urge anyone approaching retirement to use it - ideally in advance of beginning to retire. It will tell you if you are likely to receive less State Pension than you thought and that will give you the opportunity to take steps to increase what you will actually receive." State Pension payments 2025/26 Full New State Pension Weekly payment: £230.25 Four-weekly payment: £921 Annual amount: £11,973 Full Basic State Pension Weekly payment: £176.45 Four-weekly payment: £705.80 Annual amount: £9,175
Wales Online
6 days ago
- Business
- Wales Online
People with these medical conditions could get over £1,362 a month DWP payments
Our community members are treated to special offers, promotions and adverts from us and our partners. You can check out at any time. More info Millions of Brits above the state pension age across Great Britain could receive up to £1,362 each month through a combination of two separate payments from the Department for Work and Pensions (DWP). Attendance Allowance and Pension Age Disability Payment (PADP) are paid independently of the state pension, but can provide additional financial support for older people with a disability, long-term illness, physical or mental health condition. Attendance Allowance and PADP are not means-tested and worth either £73.90 for the lower rate or £110.40 for the higher rate each week and as the benefit is usually paid every four weeks, this amounts to either £295.60 or £441.60 every pay period. Pensioners could add up to £5,740 to their 2025/26 income to help with the extra costs through either of the disability benefits. The full state pension is £230.25 per week and as the payment is typically made every four weeks, this amounts to £921 a month. Annual payments are worth £11,973 over the 2025/26 financial year, reports the Daily Star. However, it's important to be aware that not all of the 4.1m people on the state pension receive the full amount as it is linked to National Insurance Contributions. The full basic state pension is £176.45 per week, or £705.80 every four-week payment period. Annual payments are worth £9,175.40 over the 2025/26 financial year, reports the Express. To check your own future state pension payments, use the online forecasting tool on here. In Scotland, pensioners are no longer eligible to claim Attendance Allowance and must instead apply for Pension Age Disability Payment from Social Security Scotland. This benefit is set to fully replace Attendance Allowance by the close of 2025. The amount received for either Attendance Allowance or PADP is contingent on the level of support required. The benefit aims to assist individuals of State Pension age with daily living costs due to their condition, potentially enabling them to maintain independence in their own home for a longer period. Neither Attendance Allowance nor PADP includes a mobility component. The conditions outlined below are derived from data recorded on the DWP's Attendance Allowance computer system. PADP also caters to individuals with these conditions. However, it's crucial to understand that this list does not serve as a checklist for claiming Attendance Allowance or PADP, but rather provides insight into the types of conditions being supported. If you require additional assistance during the day or night due to a long-term illness, disability or health condition, you should consult the official eligibility guidance for Attendance Allowance on the website here. Main health conditions providing support to older people across Great Britain Cystic Fibrosis Cerebrovascular Disease Peripheral vascular Disease Epilepsy Neurological Diseases Multiple Sclerosis Parkinsons Disease Motor Neurone Disease Chronic Pain Syndromes Diabetes Mellitus Metabolic Disease Traumatic Paraplegia/Tetraplegia Major Trauma Other than Traumatic Paraplegia/Tetraplegia Learning Difficulties Psychosis Psychoneurosis Personality Disorder Dementia Behavioural Disorder Alcohol and Drug Abuse Hyperkinetic Syndrome Renal Disorders Inflammatory Bowel Disease Bowel and Stomach Disease Blood Disorders Haemophilia Multi System Disorders Multiple Allergy Syndrome Skin Disease Malignant Disease Severely Mentally impaired Double Amputee Deaf/Blind Haemodialysis Frailty Total Parenteral Nutrition AIDS Infectious diseases: Viral disease - Coronavirus covid-19 Sign up for the North Wales Live newsletter sent twice daily to your inbox Find out what's happening near you
