Rachel Reeves

beak said:
The stock Market has increased by 30% since the Tories departed office, Please point out anything Factually wrong, if you can which i strongly doubt.
Click to expand...

Stock Market may be up - that's by and large irrelevant to smaller businesses.

But since we are quoting numbers - unemployment is up, roles available is down.

For the record I'm not defending the Tories - they were s*** and didn't understand small business either. But just because they were bad doesn't mean she is any good.
 
beak said:
So let's take the case of Currys who claimed that the National Insurance increase would scupper their business,they reported an increase in profits of 140% so they lied.
Click to expand...
Yes, let's take a look at Currys.

Here's an extract from their CEO's annual review ;

'' We're Growing Profits through higher revenue, improved margins, and cost discipline. However, UK&I profits in the first half were weighed down by the increases in National Living Wage and National Insurance costs from last year’s government Budget. ''

'' In the UK&I, the consumer environment is more muted, and cost headwinds are unhelpful.''

'' While we made underlying margin progress through cost savings and operating leverage, these were insufficient to fully offset the government-driven cost inflation. ''
 
NEILLO said:
Yes, let's take a look at Currys.

Here's an extract from their CEO's annual review ;

'' We're Growing Profits through higher revenue, improved margins, and cost discipline. However, UK&I profits in the first half were weighed down by the increases in National Living Wage and National Insurance costs from last year’s government Budget. ''

'' In the UK&I, the consumer environment is more muted, and cost headwinds are unhelpful.''

'' While we made underlying margin progress through cost savings and operating leverage, these were insufficient to fully offset the government-driven cost inflation. ''
Click to expand...
So we agree that their initial view that the two and a half per cent on N.I. being fatal for their business is total hogwash, no one can claim that they didn't make 140% profit, our Rachel should be demanding an apology of grovelling nature.
 
beak said:
So we agree that their initial view that the two and a half per cent on N.I. being fatal for their business is total hogwash, no one can claim that they didn't make 140% profit, our Rachel should be demanding an apology of grovelling nature.
Click to expand...

It wasn’t just 2.5%.

It was an extra 2.5% on everything but also an additional £4100 x 15% as she lowered the amount it starts being paid at

for a minimum wage worker it was £983 a year - around 4.1%.

On top of a 9% minimum wage rise - so that’s 13% in one hit

Currys can stand that - hospitality can’t.
 
Nutmegyeti said:
Stock Market may be up - that's by and large irrelevant to smaller businesses.

But since we are quoting numbers - unemployment is up, roles available is down.

For the record I'm not defending the Tories - they were s*** and didn't understand small business either. But just because they were bad doesn't mean she is any good.
Click to expand...
The International companies that make the BIG money are in the ftse100 such as Astra Zeneca , HSBC ,Shell , Unilever etc etc I realise that the small employer reacts quicker to economic change ( I cannot invest easily in the local newsagents), I am now betting on a rate cut of between a quarter and a half at the next B of E rate setting meeting on the 19th March 2026. My message is primarily that Britain is doing very well and the current position of out of touch right wing folk changing party ,falling out and starting new political parties is worthy of a Monty Python sketch, labour with such a fragmented right wing will stroll back into power without a problem, I know that a petty protest vote will take place in May but the next General election will concentrate minds.
 
ASCPFC said:
You want me to look into each individual company? Rachel Reeves has added costs to business. Ask any business owner. There are some on here.
I suspect Currys restructured to make that kind of profit. But I'm not going to be going through their accounts and reports.
Click to expand...
I have done so for quite a few years.
 
Nutmegyeti said:
It wasn’t just 2.5%.

It was an extra 2.5% on everything but also an additional £4100 x 15% as she lowered the amount it starts being paid at

for a minimum wage worker it was £983 a year - around 4.1%.

On top of a 9% minimum wage rise - so that’s 13% in one hit

Currys can stand that - hospitality can’t.
Click to expand...
.....but they made 140% MORE profit after claiming dire poverty.
 
beak said:
So we agree that their initial view that the two and a half per cent on N.I. being fatal for their business is total hogwash, no one can claim that they didn't make 140% profit, our Rachel should be demanding an apology of grovelling nature.
Click to expand...
I'm not agreeing anything.

Regardless of what their initial claims were, the CEO's statement makes it clear that
Reeves's policies are negatively impacting their business.

This was how Currys performance was reported in the Business Media in December - Currys' earnings before interest and taxes ( EBIT ) DROPPED slightly in the UK , attributed to higher employment costs, but was offset by strong performance in its Nordics business.

The likes of Currys can reorganise/streamline ( which is usually another word for downsize ) their operations. Small businesses don't have that luxury.

I know plenty of small business owners. One being my son. None of them are now taking on staff due to the increasing costs and the workers rights Bill.

She's probably only got another three months in the job anyway. Once Starmer goes after the by-elections, she'll be going with him.

Good riddance.
 
NEILLO said:
I'm not agreeing anything.

Regardless of what their initial claims were, the CEO's statement makes it clear that
Reeves's policies are negatively impacting their business.

This was how Currys performance was reported in the Business Media in December - Currys' earnings before interest and taxes ( EBIT ) DROPPED slightly in the UK , attributed to higher employment costs, but was offset by strong performance in its Nordics business.

The likes of Currys can reorganise/streamline ( which is usually another word for downsize ) their operations. Small businesses don't have that luxury.

I know plenty of small business owners. One being my son. None of them are now taking on staff due to the increasing costs and the workers rights Bill.

She's probably only got another three months in the job anyway. Once Starmer goes after the by-elections, she'll be going with him.

Good riddance.
Click to expand...
Labour do not have a replacement.
 
NEILLO said:
Yes, let's take a look at Currys.

Here's an extract from their CEO's annual review ;

'' We're Growing Profits through higher revenue, improved margins, and cost discipline. However, UK&I profits in the first half were weighed down by the increases in National Living Wage and National Insurance costs from last year’s government Budget. ''

'' In the UK&I, the consumer environment is more muted, and cost headwinds are unhelpful.''

'' While we made underlying margin progress through cost savings and operating leverage, these were insufficient to fully offset the government-driven cost inflation. ''
Click to expand...
wow, there are inflationary pressures - hardly a new things and something a business has to navigate every year.

As he states margins improved, what he is actually saying is that Currys put prices up as although cost savings were made they were less than minimum wage increases and NI increases.

Again, who thought companies increase prices and who thought companies give employees an annual pay rise.

Next year Currys will tell you that the cost of chips and RAM have increased massively as AI has pushed the price up massively. A couple of years ago it was utility prices due to the Ukraine war etc (and the UKs lack of investments etc).
 
NEILLO said:
Well I can believe that they have no succession planning - they seem incapable of thinking anything through properly
Click to expand...
In all honesty after the Tory debacle of having a monthly leader they did expect blue skies, the Labour left are touting Angela Rayner she is NOT any kind of succession plan.
 
Nutmegyeti said:
Stock Market may be up - that's by and large irrelevant to smaller businesses.

But since we are quoting numbers - unemployment is up, roles available is down.

For the record I'm not defending the Tories - they were s*** and didn't understand small business either. But just because they were bad doesn't mean she is any good.
Click to expand...
I accept parts of that but the Stock Market is up a third in eighteen months since the election which is unheralded, the government sets the tone. I think the Inflation figures today play a huge part.
 
You must log in or register to reply here.

Share this page

Holmesdale Online Shop

Back
Top