Retailers Warn of Potential Price Hikes
Leaders from nine major supermarket chains have written to Chancellor Rachel Reeves, calling on the government to exclude retail stores from the proposed business rates surtax.
The retailers, coordinated by the British Retail Consortium, argue that this exclusion would help tackle food inflation, support jobs, and foster 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.
The letter emphasizes the need for government support to mitigate the impact of these costs on food prices.
No specific quote available in the provided text.
Author's summary: Retailers warn tax rises may increase food prices.
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