Two thirds (67%) of chief financial officers surveyed indicated they would need to raise prices due to increased employers' National Insurance contributions, highlighting a major cost concern.
The survey found that 70% of CFOs felt pessimistic about trading conditions for the next year, reflecting widespread concern about economic stability and industry pressures.
CFOs are bracing for reduced profits, with 44% anticipating declines, showing the serious impact of taxation and inflation on retail financial health.
BRC chief executive Helen Dickinson stated that the Budget could raise industry costs by over 7 billion by 2025, prompting tough decisions on investment and employment.
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