NHBF Business Update Wednesday 29 May 2024

PM Announces General Election

A statement from Downing Street has confirmed: “Parliament will be prorogued on Friday 24 May. Dissolution will take place on Thursday 30 May. The General Election will take place on Thursday 4 July. The new Parliament will be summoned to meet on Tuesday 9 July, when the first business will be the election of the Speaker and the swearing-in of members, and the State Opening will be on Wednesday 17 July.”

Read our latest blog, the General Election in the UK, How you can make your voice heard: A guide for NHBF Members.

Fraud Warning

The NHBF has received multiple reports from its Members about receiving calls from companies pressuring them to sign contracts. These companies falsely claim that the salon lacks the correct health and safety risk assessments and insist that signing with them is the only way to rectify this issue.

The NHBF is advising its Members to be cautious of these misleading calls and to reach out to our help centre if they have any concerns.

Inflation Falls

In April 2024, the inflation rate dropped to 2.3% from 3.2% in March, marking its lowest level in almost three years. However, it is still above the 2% target set by the government.

Banknote checking resources for retailers and businesses

The Bank of England has released updated guidance for retailers and businesses, along with free training materials that demonstrate the best practices for verifying the authenticity of its banknotes. This includes the new designs featuring Her Majesty Queen Elizabeth II and the upcoming HM King Charles III designs. The training materials are available in video, digital, and print formats on the website. The King banknote designs will be put into circulation on 5th June. The new notes have the same visual security features, so all denominations should be checked using the same methods as for the existing Queen Elizabeth II notes.

Low pay commission UK visits 2024

The Low Pay Commission (LPC) is an independent statutory Non-Departmental Public Body set up under the National Minimum Wage Act 1998 to advise the Government on the National Minimum Wage (NMW).

They are on the lookout for companies that might be interested in speaking to the commissioners about the impact of minimum wages on their business.  From 1 April 2024, the minimum has increased to £11.44 for those over 21-year-olds which is nearly a 10% increase from last year.  There are also adjustments for other age groups as shown in the link here.

How will the latest announcement affect your business planning?  How would you respond to the rising NMW?  LPC is also interested in talking to companies that are trying to raise their productivity, to showcase their learning journeys in their communication platforms.  The oral evidence given by the companies will be collated along with the research statistics for LPC to make their yearly recommendations to the government about the minimum wage.

If you would like to speak to the LPC Commissioners and bring up issues pertinent to your sector, please refer to the table of visits below and contact Rosina Robson from the NHBF.

Visits Schedule

12 to 13 June 2024 (Scotland)

North Ayrshire

Glasgow

3 to 4 July 2024 (Northern Ireland)

Bangor

31 July 2024 (Midlands)

Wolverhampton

Article via NHBF. Read full article at NHBF business update Wednesday 29 May 2024