Sunday trading, VAT-free shopping? Healey has plenty of low-hanging fruit this Budget

Chancellor John Healey faces several difficult choices during his Budget, but some measures are relatively easy to implement, according to Karim Fatehi. Businesses are currently hesitant to invest, hire and grow due to high costs, recruitment difficulties, and uncertainty. Therefore, the government should focus on low-hanging fruit.

VAT-free shopping for international visitors in London could be advantageous, as it helps the UK compete with other global cities for tourists, strengthening its position as a shopping destination. Sunday trading restrictions could also be relaxed, allowing large shops in England and Wales to open for extended hours on Sundays, giving retailers more flexibility to meet demand.

Offering a targeted employer National Insurance exemption for businesses hiring young people who are not in education, employment, or training (NEET) would address both the issue of high NEET rates and the cost of employing these individuals. Finally, London should strive to remain a leading financial centre by introducing a five-year listing holiday for companies newly listing in London and providing incentives for companies to list their shares in the city.

These measures aim to remove barriers for businesses, allowing them to invest, hire, and grow without the government spending more money.