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 such an exclusion would help tackle food inflation, support jobs, and encourage future investment across the sector.
- Additional costs for retailers in 2025 are expected to exceed £7 billion.
- These costs include higher National Insurance contributions, employment costs, and new packaging taxes.
Excluding retail stores from the proposed business rates surtax would help tackle food inflation.
Retailers warn that tax rises could lead to higher food prices.
Author's summary: Retailers urge government to reconsider tax surtax.
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