Budget 2025: Retail industry reacts

Chancellor Rachel Reeves delivered her second Budget today, prompting mixed reactions from the retail sector.
Reeves announced permanently lowered business rates for 750,000 retail, hospitality and leisure businesses, funded by higher rates for properties worth over £500,000 utilised by “warehouse giants”.
While the customs duty relief on low value goods under £135 will also be scrapped from March 2029 at the latest, preventing online retailers from undercutting high stre