Retailers Warn of Potential Price Hikes
Leaders from nine major supermarket chains have written to Chancellor Rachel Reeves, expressing concerns over proposed tax rises.
The retailers, coordinated by the British Retail Consortium, are calling for an exclusion from the business rates surtax on premises with a rateable value of £500,000 or above.
Such an exclusion would help tackle food inflation while also supporting jobs and future investment across the sector.
- Retailers are facing over £7 billion in additional costs in 2025.
- These costs include higher National Insurance contributions, employment costs, and new packaging taxes.
Author's summary: Retailers warn tax rises may lead to higher food prices.
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