In a letter to chancellor Rachel Reeves, over 70 retailers including Tesco and Sainsbury’s warn that Budget changes could lead to shop closures and job losses.
The British Retail Consortium has organized a letter expressing concerns that rising business costs due to the government's October Budget will negatively impact customers and the high street.
Rising employer national insurance contributions, set to increase from 13.8% to 15% in April 2025, are a significant concern for retailers regarding financial sustainability.
These concerns are emphasized as the first time many of these household names have publicly articulated their worries in such a collective manner.
#uk-retail #october-budget #employer-national-insurance-contributions #shop-closures #business-costs
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