The cost of clothes is rising

It appears that on comparison in clothing retailers the prices seem to have risen by around 50% on last year. This seems to ring true as retailers such as retailers Next

Table of contents

The cost of clothes is rising

The cost of clothes is rising

It appears that on comparison in clothing retailers the prices seem to have risen by around 50% on last year.  This seems to ring true as retailers such as retailers Next, Primark and New Look have all warned of having to raise their prices (indeed this looks like it's already happening).But why? It's partly because cotton prices have climbed by around 150% in the last two years, while transport costs are also rising. However, you can't pin it all on these. Raw material prices have seen big moves in both directions in the past, yet the cost of clothes for UK consumers has been dropping steadily for ages. Indeed, the UK clothing consumer price sub-index has almost halved over the last decade.No, the swing factor is what's happening with wages in the countries that make the clothes sold by Britain's retailers primarily China.Those earlier rises in raw material and transport costs may in the past have been offset by lower labour costs. But the Chinese wage growth is now pushing these offsets.This shouldn't come as a great surprise. In the last seven years, China's M2 money supply measure - how much cash is sloshing around the system - has increased more than threefold. In other words, there's been a massive credit bubble. That has driven rapid economic growth - China is growing at around 10% a year just now.As always we recommend clients budget their finances on a long term basis allowing for all types of expenditure to ensure they are making best use of their money.

Join our Newsletter

Subscribe and get the latest updates about inheritance tax and Estate Planning into your mailbox.

We help people with over £1 million in current assets pay ZERO in UK inheritance tax

One stop comprehensive specialist advice - Tax, financial planning and legal advice service with 18 years experience.

What our clients say
Read our 118
    

"It is gratifying to finally come across an adviser who gives sensible ongoing advice which is very client focused."

Frank Hibberd

Retired gentleman

"It is nice to know that we can now be certain that our daughter will inherit our money without giving a large slice of it to the government ."

Tony & Sue Perriss

"Everyone's situation is different but having an initial discussion with Charles has really helped me personally navigate what can be a daunting subject."

Bobby Chadda

"I particularly want to thank you for the open and transparent manner in which you have serviced my tax planning needs since I first met you seven or so years ago. In arranging my tax planning through you, I have confidence"

Michael Mahon

Retired gentleman

"Charles was really helpful from the outset and quickly clarified our situation for us... I have used Bluebond for  IHT and other tax advice and they have been very helpful with both. Charles is a very experienced and knowledgeable individual and I highly recommend Bluebond's services."

Sam Attenborough

Retired gentleman

I have used Bluebond for setting up a discretionary trust for my children as well as inheritance tax and estate planning for my home and  other properties. Having searched for years, it was only after meeting and speaking with Charles that I felt confident enough to take these next steps, and I'm very glad I did. His ability to explain complex issues in simple terms and walk you through every step of the process is quite simply unparalleled.

Imran Qureshi

Excellent and comprehensive advice concerning all things financial in one place. Enthusiastic, Educational, Expert, value oriented, Professional and Polite are adjectives that come to mind as well as great attention to detail.

Deirdre Buckley

Inheritance tax is a minefield. Charles de Lastic of Bluebond Tax Planning is the best in the business at helping you to chart the path that is right for you to ensure your estate is structured in the most tax efficient manner.

Nicholas Dickinson

Charles provides clients with valuable insights that clearly demonstrate expertise built over the years. Charles and his team guided us through a estate planning journey and then addressing complex Inheritance Tax matters. They have been very transparent with their advice and cost. Overall an excellent service. Highly recommended

Shailesh Karia

The information contained in this web site is for UK consumers only.  Like most firms of solicitors and accountants, Bluebond Tax Planning is not regulated by the FCA. The content of this website does not constitute FCA regulated financial advice and all content is provided for general information purposes only. Bluebond is not responsible for any action you may take as a result of information on this site. All advice will be delivered on a personal basis once we fully understand your situation and our client agreements have been signed.

Copyright © 2024
Copyright Notice
Legal Disclaimer
Terms & Conditions
Privacy Policy