Huttons, a beloved gift shop in London's Putney Exchange, has announced its closure after nearly 30 years. Owners cite Labour's latest budget, which increased national insurance contributions, as the reason for their closure. They join a growing number of businesses across the UK struggling with the financial impact of the budget.
But the store - in the Putney Exchange - has now been forced to close down, with its owners blaming Labour's latest budget.It is known for stocking stationary, candles, gifts, ceramics and clothing from around the world.However, critics have argued that the budget worsened conditions for businesses.
Beales' bosses said that their closure "illustrates the devastating impact" of the rise in national insurance contributions. “We urge you to continue supporting Putney’s brilliant independent businesses. They are a vital part of the community and will need your support in the coming year."
ECONOMY BUDGET BUSINESS CLOSURES NATIONAL INSURANCE RETAIL
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