Today’s news in brief-4/12/24
Evri has partnered with the GMB Union to secure an industry-first pay deal that guarantees self-employed couriers insurance-backed paid sick leave. Supported by over 80% of voters, the agreement also includes festive support payments of up to £950 and subsidized insurance for death, disability, accidents, and sickness. This builds on their 2019 Self-Employed Plus (SE+) framework, which offers benefits like paid holiday, pensions, and flexible working options.
Chancellor Rachel Reeves acknowledged challenges for businesses as employer National Insurance contributions will rise to 15% from April 2025, as announced in the autumn budget. Speaking at the Great Northern Conference in Hull, Reeves admitted that absorbing the increase won’t be easy but defended Labour’s stance, noting its promise not to raise taxes on employees. Critics, including the Conservatives, argue Labour broke its manifesto pledge by not distinguishing between employee and employer contributions. While Reeves ruled out immediate tax increases, she left room for flexibility depending on future economic shocks.
Gymshark’s CFO Mathew Dunn has stepped down after less than two years. Hired in December 2022 from Asos, Dunn played a key role in evolving the company’s financial and commercial functions, according to a Gymshark spokesperson. His departure comes as the company expands its retail presence with plans to open three permanent stores and a pop-up outlet in 2025.
Ruggable is set to establish a physical retail presence in the UK through a partnership with John Lewis. From December, its washable rugs will feature in an in-store experience at the John Lewis flagship store on Oxford Circus. Customers can explore 115 designs, including collaborations with Morris and Co., Iris Apfel, and Jonathan Adler. Ruggable’s rugs, which are stain-resistant and water-repellent, have been available online through John Lewis since September. This move aligns with Ruggable’s strategy to expand in the UK and Europe, leveraging its Birmingham facility for manufacturing and distribution.
