High street sales, council tax, first-time buyers and spending

Some gloomy data for retailers this morning following the news that the high street has recorded its worst January sales since 2013. According to BDO, like-for-like sales fell by 0.1 per cent. This is the first negative growth in the new year discounting period in four years. The accountancy group added that rising prices and political uncertainty had affected consumer confidence and spending in the busiest two months of the shopping calendar (this includes December). The hardest hit were fashion sales. Council tax Households already feeling the pinch are now facing an increase in council tax. The Daily Mail reports that almost all of England’s town halls have pledged to implement an inflation-busting rise. That’s according to a report by the Local Government Information Unit (LGiU), an independent think-tank, and Municipal Journal magazine.

The survey found that 94 per cent of local authorities plan to increase the tax by up to 5 per cent in April – the equivalent of an £80 rise for the average property.