Keir Starmer to push Donald Trump on steel tariffs; British retail sales rise in June – business live

Live, rolling coverage of business, economics and financial marketsThere is some positive news for the retail sector this morning, with official figures showing that monthly sales rose in June by 0.9%. It follows a fall of 2.8% in May.That was helped by warm weather, with supermarkets reporting better trading and an increase in drink purchases, the Office for National Statistics has said.While the June figures are welcome news and consumer confidence ticked up last month, nervousness among consumers persists, and the unexpected rise in inflation won’t have helped. The higher price of essentials such as food and fuel will only add to the reluctance among consumers to spend as their discretionary income shrinks.Concerns remain in the sector, as retailers increasingly run out of headroom to mitigate rising costs. Many will be hoping the government steps in to provide meaningful reductions in business rates, as well as raising the threshold at which employers’ National Insurance becomes payable. It’s also hoped that the reintroduction of tax-free shopping is brought back on the table, so the sector doesn’t miss out further on valuable retail spend.” Continue reading...

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