The British Finance Minister, Rachel Reeves, will remove the customs duty exemption for goods imported under 135 pounds, generating approximately 500 million pounds annually.

Rachel Reeves, the British Minister of Finance, announced the intention to eliminate the customs duty exemption for imported goods with an individual value of under £135, a measure that could generate approximately £500 million annually. The decision comes in response to pressure from major local retailers, such as Next and Primark, who have complained about unfair competition from international online stores. Currently, individuals purchasing products from foreign merchants are exempt from customs duties for goods below this threshold, while large companies pay duties on bulk imports. Reeves emphasized that this measure will support local stores, ensuring them fair competition conditions. The removal of the exemption will be included in the budget on November 26, and authorities will launch a consultation on the new customs procedures, estimating a "modest" impact on consumer prices. George Weston, the CEO of Associated British Foods, welcomed the decision, believing it will help British businesses and protect safety standards.