THE boss of Currys has called on the Government to show it is serious about getting people back to work.
Instead, he says, it is making employing staff “riskier, harder and more expensive”.
5
Britain faces a worklessness crisis with three million on sickness benefits and a million young people not in education, training or employment.
Alex Baldock, chief executive of the electricals chain, points out that retailers are the biggest private sector employer and, along with hospitality firms, often give people their first jobs and help to get back into work with flexible, part-time roles.
But he believes these opportunities risk being cut off if the Government goes ahead with its shake-up of employment rights.
Mr Baldock said: “The Make Work Pay reforms threaten the viability of the very jobs the Government wants to protect.
“Retailers need flexibility because shops are busier at some times than others.
“Saturdays are busier than Tuesdays and December is busier than February so we need to flex up and down how many colleagues we have on the shop floor accordingly.”
He says the biggest problem is demanding that firms give a contract to a worker based on average hours worked in the previous 12 weeks.
This could apply to those taking extra shifts in the run-up to Christmas.
Mr Baldock added: “We’d end up paying for hours we don’t need and can’t afford.
“The result is we won’t be able to offer them at all.
“The Government wants to protect workers, but workers need somewhere to work.
“The riskier, harder and more expensive it is for business to employ people, the fewer jobs there will be.”
Retailers have already been burdened with £7billion of extra costs following the Budget.
Mr Baldock highlighted that Currys makes just £1.80 of profit for £100 gadgets it sells, a thin margin.
He said: “The Government said the Budget was an ugly necessity but these employment reforms are a choice.
“It’s a choice they don’t have to make.”
There is growing frustration that firms that could be hiring and expanding are being hamstrung.
Mr Baldock said: “The Government is slashing red tape elsewhere and it’s great to see them tackling planning reforms and leaning on regulators for growth.
“But the Employment Rights Bill is the odd one out.”
5
RAYE OF HOPE FOR GAMERS
BRITISH gamers could soon be thanking Donald Trump for helping them get their hands on sought-after Nintendo Switch 2 consoles.
Stock from China destined for the US is coming to the UK instead as firms try to avoid the President’s trade tariffs — increasing supply of the hotly-anticipated gaming tech promoted by singer Raye and her sisters.
5
5
However, Currys boss Alex Baldock has warned that the move could also see Britain become a dumping ground for “unsafe, tax-dodging tat”.
The Chancellor has announced a consultation into low-value imports after intense lobbying from retailers.
USE US, RACHEL.. DON’T HAMMER US
EVERYONE wants to get Britain back to work.
Three million people of working age are not working for health reasons.
A million 16 to 24-year-olds are not in education, employment or training. It’s a desperate — and unaffordable — waste of human talent.
Meanwhile, retailers such as Currys are the country’s biggest employers.
We give first jobs to school leavers, part-time jobs to students and carers, and a way back to work for parents.
It doesn’t take a genius to see the solution here.
Retailers create the good, flexible jobs tailor-made to get people back to work — and get the welfare bill down.
But just when the Government needs more people back into work, its actions pull the other way.
Retailers such as Tesco and B&Q have warned Chancellor Rachel Reeves the industry will have to employ 300,000 fewer people due to a barrage of new costs and red tape.
Retailers want to help, and we can.
Our ask of Government is simple: Enlist businesses like us, don’t hammer us. Let us play our part in getting Britain back to work.
BUYING’S STAMPED ON IN DIP
HOUSE prices slipped in April as a stamp duty increase for buyers dampened demand.
The average property fell by 0.6 per cent to £270,752, according to Nationwide’s house price index.
5
The drop follows a rush of house sales in March, when buyers raced to complete their property purchases before the duty discount was scrapped.
Separate figures by HMRC show that the number of property transactions jumped by almost two thirds from 109,700 in February to 177,370 in March.
Karen Noye, mortgage expert at Quilter, said: “Residential transactions jumped over 60 per cent compared to February as many were racing against the clock.”
An update from housebuilder Taylor Wimpey yesterday struck a positive tone, saying falling mortgate rates had boosted its new home orders.
A clutch of lenders is now offering home loans below four per cent.
UNILEVER PAY ROW
ALMOST a third of investors rebelled against a pay package for Unilever’s new boss.
Fernando Fernandez is set to receive a £1.5million basic salary and perks including £763,000 to move house.
He justified his salary as saying the company needed to recruit talent and highlighted the support of activist investor Nelson Peltz, who is on its remuneration committee.
Shareholder advisers at ISS had recommended investors vote against the pay package.
MORE than 80 per cent of shareholders have approved Czech billionaire Daniel Kretinsky’s £3.6billion takeover deal of Royal Mail.
Parent firm International Distribution Services will be delisted from the London stock market on June 2.
ASTON U.S. LIMIT
JAMES Bond favourite Aston Martin said it will limit deliveries of its luxury cars to the US due to Trump’s tariffs.
The British firm has been hit hard by the 25 per cent rate on all foreign cars by one of its most lucrative markets as it makes its Vantage and Vanquish models in the UK.
Rivals Mercedes-Benz and Stellantis withdrew profit forecasts due to uncertainty.
Trump has offered relief to makers who can assemble vehicles in the US.
But firms are already under pressure in the shift to electric vehicles.
LOST LANGUAGE
DUOLINGO, the language learning service, is going to replace contract workers with artificial intelligence.
Boss Luis von Ahn said in an email to staff the company would “gradually stop using contractors to do work that AI can handle”.
As part of its “AI-first” approach, Duolingo yesterday launched 148 new language courses that were created using generative AI.
Mr von Ahn said it had taken 12 years to create 100 courses, which have a gaming approach to lessons and exercises.
Unlock even more award-winning articles as The Sun launches brand new membership programme – Sun Club.