Sirius Bulletin - 3rd May 2022
This bulletin provides a summary of topical news, announcements and policy developments affecting business across the UK.
Only a quarter of firms prepared for new Bill
Only a quarter of construction professionals are ready for the introduction of the new Building Safety Bill. The Bill is expected to impact on the design and construction of higher-risk buildings and how they are managed.
Read more about the Bill at: https://constructionmanagement.co.uk/only-a-quarter-of-construction-firms-prepared-for-new-building-safety
Impact of rising costs on growers
The Horticulture Inflation Report has revealed that fruit and vegetable growers are facing inflation rates of up to 24%. The key drivers of inflation are energy and fertiliser costs. Labour continues to be the biggest cost, representing 30%-70% of turnover.
Read more about the report at: www.nfuonline.com/updates-and-information/new-report-shows-impacts-of-rising-costs-on-growers
Energy price rises are a threat
Increases in energy prices pose a clear and present threat to swimming pools without urgent government support. Figures from ukactive have revealed that the total energy bill in the leisure sector has risen from £500 million in 2019 to around £1 billion in 2022.
Read more about the threat at: www.swimming.org/swimengland/energy-costs-appg-meeting
Sales reach a record high
UK publisher sales rose by 5% to £6.7 billion in 2021, a new high for the industry. Total UK sales income rose 7% to £2.7 billion and total export sales income rose 2% to £3.8 billion.
Read more about the increase at: www.publishers.org.uk/uk-publishing-reached-a-new-high-in-2021
Government accused of being unreasonable
Kellogg’s is taking the Government to court over new rules that would prevent some cereals being prominently displayed in stores because of their high sugar content. Kellogg’s believes that the rules fail to consider the nutritional value of milk added to the product.
Read more at: www.bakeryandsnacks.com/Article/2022/04/27/KelIogg-s-takes-UK-Government-to-court-for-being unreasonable-over-HFSS-restrictions
Fish and chip shops
Sunflower oil shortage
Fish and chip shop bosses have met government officials to discuss the global sunflower oil shortage which threatens to shut thousands of chippies. The National Federation of Fish Friers confirmed that the potential of sourcing supplies from Australia and Argentina had been discussed.
Read more about the shortage at: https://inews.co.uk/news/consumer/sunflower-oil-shortage-uk-fish-chip-shops-australia-argentina-deals- 1596902
Tourists allowed to use e-gates
Portugal has started fast-tracking UK travellers at its airports, allowing them to avoid long queues when they enter the country. Since 31 January 2020, British passports must be checked manually instead of electronically, meaning longer queues.
Read more about the announcement at: www.euronews.com/travel/2022/04/25/portugal-becomes-first-country-to-ignore-brexit-and-fast-track-uk tourists?
Increase in imported food prices
Brexit has pushed up the price of food imported from the EU, adding to the cost of living crisis. Trade barriers introduced after leaving the EU led to a 6% increase in UK food prices between December 2019 and September 2021.
Read more about the increase at: https://ukandeu.ac.uk/research-papers/post-brexit-imports-supply-chains-and-the-effect-on-consumer-prices/
Fastest rise in costs since 1975
Optimism among UK manufacturers has fallen at its sharpest pace since the first coronavirus lockdown two years ago as firms struggle to cope with the fastest increase in their costs since 1975.
Manufacturing output and order books continued to grow but at a slower pace.
Read more about the increase at: www.theguardian.com/business/2022/apr/25/optimism-falls-as-uk-factories-hit-by-fastest-rise-in-costs-since- 1975-cbi?
DISCLAIMER While all reasonable efforts have been made, the publisher makes no warranties that this information is accurate and up-to-date.