The Drapers Fashion Retail Manifesto encapsulates the fashion industry’s pressing needs as the UK election approaches.
- Fashion retail contributes £62bn annually to the UK, demanding attention from political parties.
- Industry leaders highlight the necessity of reforming business rates to alleviate financial pressure.
- Sustainability and post-Brexit trade agreements demand governmental action and strategic planning.
- The sector calls for apprenticeship levy reform and efforts to combat retail crime.
The Drapers Fashion Retail Manifesto represents a substantial effort to voice the fashion industry’s needs ahead of the upcoming UK general election. As a sector contributing £62bn annually and supporting 1.3 million jobs, its significance to the UK economy is undeniable. This comprehensive document collects insights from individuals, businesses, and industry associations, offering a consolidated appeal to political parties.
The manifesto’s prominent focus is on business rates reform. Industry leaders stress that high business rates severely affect both independent and high-street retailers. With a recent increase in the business rates multiplier, estimated costs stand at £470m this year alone. The current structure creates an uneven playing field between traditional shops and online retailers, prompting calls for more equitable solutions.
Post-Brexit trade complexities also remain unresolved, demanding urgent government intervention. The fashion sector faces challenges with EU Free Trade Agreements, incurring high costs for brands wishing to engage with European markets. The new government is urged to address these ongoing trade issues, which have been notably absent from election debates thus far.
Sustainability remains at the forefront of industry concerns. Leaders advocate for policies that support renewable energy adoption and energy efficiency improvements. Government incentives could help businesses transition to sustainable practices, aligning with broader decarbonisation and net-zero targets.
The manifesto also emphasises the need for apprenticeship levy reform. Many view the current system as inadequate, serving more as a tax than a genuine developmental tool. Expanding the levy to cover a wider range of courses and support associated costs could foster a skilled, creative workforce.
Retail crime poses a growing threat to the industry, prompting calls for immediate governmental action. The manifesto highlights the importance of making retail crime a priority in policing plans, including the introduction of standalone offences for assaulting retail workers.
These detailed proposals underscore the necessity for political parties to address the unique challenges faced by the fashion industry.
The Drapers Fashion Retail Manifesto delivers a unified plea for the next UK government to address these critical industry challenges.
