CRIPPLING costs for retail will create a “perfect storm” paving the way for Reform to win up to a dozen MPs, new research reveals.
Three hundred thousand employees are expected to leave the sector by 2028 with more deprived areas heavily reliant on jobs in the sector.
Labour MPs are demanding more support for the sector from Chancellor Rachel Reeves[/caption]
Labour MPs are tolday calling on more support from Chancellor Rachel Reeves to help the industry and provide more help for the High Street.
The impact of the hikes to national insurance for firms and proposed business rates changes could make a major hit to the retail sector and see voters switch parties.
New research from the Retail Jobs Alliance, which is made up of names such as ASDA, Primark and Tesco, has probed the number of workers in each constituency that have jobs in bricks-and-mortar retail.
Labour holds 24 out of the 30 constituencies which have the highest proportion of people working in retail – and Reform could take half of Sir Keir Starmer’s seats.
The constituencies that could change hands are Redcar, Hartlepool, Dover & Deal and Blaydon & Consett.
Two of the party’s MPs – Anna Turley and Polly Billington – are today demanding more support from Ministers to get behind retail jobs.
Anna Turley MP for Redcar, said: “Retail provides thousands of jobs and a vital source of income for many local families in Redcar.
“But its value goes beyond employment—our high streets are essential spaces for our community, offering social hubs and essential services that strengthen Redcar.
“With retailers facing increasing financial pressures, it’s important that their contribution is recognised and supported by government to ensure they can continue to thrive, create jobs, and keep our high streets vibrant.”
A spokesperson from the Retail Jobs Alliance said: “The Government stood on a manifesto to reduce economic inactivity and protect our high streets.
“The perfect storm of costs facing retailers including a higher rate multiplier for larger stores means that these commitments are in jeopardy.
“Shops up and down the country employ millions of people. In some communities, retail is the single largest private sector jobs creator.
“These shops are also the heartbeat of our communities, providing public services and social hubs.
“Without exemption for retail from the new higher rate threshold, high streets across the country face an increasingly bleak future.”
