Sirius Bulletin - 4th July 2022

Sirius Bulletin - 4th July 2022

This bulletin provides a summary of topical news, announcements and policy developments affecting business across the UK.

Hospitality

Record staff shortages causing loss in trade

Staff shortages in the hospitality industry have caused 45% of operators to cut trading hours or capacity, costing the industry £21 billion in lost revenue. Front-of-house roles and chefs are vacancies that operators are struggling to fill.
Read more about the impact at: https://beerandpub.com/2022/06/23/record-staff-shortages-causing-hospitality-to-lose-21bn-in-trade/

 

Groceries

Increase in sales of frozen and canned meats

According to NielsenIQ, over the last four weeks frozen poultry sales have risen by 12% as consumers look for cheaper alternatives to cut costs. Sales of rice and grains have also increased by 11% and canned beans and pasta rose by 10%.
Read more about the increases at: www.retailgazette.eo.uk/blog/2022/06/shoppers-turn-to-frozen-and-canned-meats-amid-cost-of-living-crisis

 

Social commerce

Shopify partners with Twitter

Shopify has partnered with Twitter to launch Twitter Shopping as a social commerce strategy. Shop Spotlight will allow merchants to showcase up to five products and Twitter Shops will be a separate shopping tab where merchants are able to showcase up to 50 products.
Read more about the partnership at: www.chargedretail.eo.uk/2022/06/22/shopify-partners-with-twitter-to-expand-social-commerce-offering


Sales tax

Retailers split over online tax

Asda has warned the Government that introducing an online sales tax will only harm retailers and shoppers already struggling to cope with high inflation. John Lewis, Marks & Spencer and Currys have also argued against the introduction of the tax. However Tesco, Sainsbury’s, the Co-op, Morrisons and Kingfisher are in favour.
Read more about the tax at: www.retailgazette.eo.uk/blog/2022/06/asda-joins-asos-amazon-and-currys-in-rejecting-online-sales-tax/?

 

Food standards

Review identifies industry challenges

The Food Standards Agency and Food Standards Scotland have published an in-depth review of UK food standards. Two of the main challenges identified as part of the review are the fall in the number of food business inspections and the delay in establishing full UK import controls for high-risk food and feed from the EU.
Read more about the review at: www.food.gov.uk/news-alerts/news/inaugural-report-on-uk-food-standards-cautions-of-challenges-ahead

 

Holiday letting

Increase in number of second homes

The number of properties being used as holiday lets in England has risen by 40% in three years. Estate agents have reported an increase in second-home ownership during the pandemic, with many buyers now offering these as holiday lets. Tourist areas such as Scarborough, the Isle of Wight, North Devon, the Cotswolds and Norfolk have seen the sharpest increases.
Read more about the increases at: www.bbc.eo.uk/news/uk-politics-61966359

 

Catering

Funding increases by just 7p a pupil

The Department for Education has increased funding for universal infant free school meals to £2.41 (up from £2.34) in response to the cost of living rise. Schools will receive the uplift to universal infant free school meals funding backdated to 1 April 2022. However, LACA, the body representing school food caterers, said the funding was inadequate and food standards were at risk.
Read more about the increase at: www.nurseryworid.co.uk/news/article/universaI-free-school-meaIs-funding-rises-by-just-7p-a-pupiI

 

Car sales

Increase in finance volumes

Figures released by the Finance & Leasing Association show new business volumes in the consumer new car finance market were 5% higher in the first four months of 2022 compared to the same period in 2021. Business volumes in the used car finance market were 20% higher.
Read more about the figures at: www.aIphabet.com/en-gb/ auto-digest/consumer-car-finance-new-busi ness-volumes-felI-1-april-2022

 

Trade deals

Union organisation issues workers’ rights warning

The TUC has accused the Government of negotiating post-Brexit trade deals with countries that do not guarantee workers’ rights or systematically violate employee protections. The countries include Brazil, Burundi, Saudi Arabia and Qatar.
Read more about the concerns at: www.theguardian.com/politics/2022/jun/28/tuc-issues-workers-rights-warning-over-post-brexit-trade-deals?

 

DISCLAIMER While all reasonable efforts have been made, the publisher makes no warranties that this information is accurate and up-to-date.