Retail Rewired | 2025 Autumn Budget

As announced ahead of the Budget, the Chancellor has accepted recommendations from the Low Pay Commission for low-income workers to be “properly rewarded” for their work.

However, Daniel Todaro, CEO at shopper marketing agency, Gekko Group, says the move will be felt at the checkout and could drive further inflationary pressure:

“The boost in the NLW will improve the quality of life for the UK’s lowest earners, but consumers may not feel the benefit for long. Businesses will have no option but to pass the increased wage bill on to consumers, which will only increase inflation further.”

While the increase will impact all businesses with employees, it will be most keenly felt by those with larger workforces, who are also more likely to be impacted by the higher business rates multiplier.

“With retail insolvencies increasing in 2025, it was vital that the Budget included measures to support the sector. Business rates reform – particularly permanent relief for retail properties – promises much needed stability for smaller businesses but larger companies, which are also fighting to survive, will foot the bill, putting them under even more pressure.”

To read the published comment by Dan Todaro, Gekko Group CEO, please visit Retail Rewired