As the UK approaches the 2024 election, the British Fashion Council (BFC) presents its key priorities to the incoming government.
- The primary demand is the restoration of the VAT Retail Export Scheme to revitalise the competitive edge of UK fashion.
- A significant overhaul of business rates is urged to support traditional brick-and-mortar fashion retailers.
- There is a call for enhanced investment in the UK’s world-renowned fashion education sector.
- The Council emphasises the need for legislation to foster sustainable business practices to meet decarbonisation targets.
As the 2024 general election looms, the British Fashion Council (BFC) articulates its strategic priorities, highlighting the need for governmental engagement with the fashion sector. The BFC is advocating for the restoration of the VAT Retail Export Scheme, addressing a significant competitive disadvantage faced by UK fashion entities. Comparative data illustrates that, since its removal, international visitor spending in the UK lags behind competitors like France and Spain. This reinstatement is projected to generate an additional £2.3 billion for the UK economy, contradicting Treasury assumptions.
A reformation of the business rates system is also pivotal, according to the BFC, aiming to bolster physical and omnichannel retailers who struggle against online counterparts that benefit from lower operational costs. This initiative is designed to rejuvenate high street activity, incentivise local business involvement, and promote job creation in the sector. The BFC calls for a taxation strategy that equally supports traditional retail formats to maintain their vital role in communities.
Further, the BFC seeks amplified investment in the nation’s prestigious fashion education sector. The UK hosts six of the top global undergraduate fashion courses and three leading graduate programmes. The BFC stresses the importance of integrating arts more robustly alongside science and technology subjects, contributing to an ambitious target of creating one million new jobs in the cultural and creative sectors by 2030.
In addition to nurturing talent, there is a pressing demand for creating a new generation of fashion businesses and skilled professionals. The UK’s reputation as an incubator for fashion talent is supported through the BFC’s successful Newgen initiative. The Council urges governmental collaboration to future-proof the industry, focusing on diverse workforce development and enhanced engagement from product design to consumer relations.
Crucially, the BFC is advocating for legislative measures to advance sustainable business practices, which align with the UK’s decarbonisation and net-zero commitments. The fashion industry’s environmental impact remains a critical concern, with the BFC and the Institute of Positive Fashion ready to guide the government in implementing feasible regulatory frameworks that are consistent with international standards.
The British Fashion Council calls for strategic government collaboration to ensure a thriving and sustainable future for the UK fashion industry.
