Tesco boss warns Rachel Reeves: 'Enough is enough' on tax rises as budget delay rattles retailers

"Enough is enough. Don't make it harder for the industry to deliver great value for customers."

"pro-growth, pro-jobs"

"negatively affecting consumer confidence"

"as a money tree", despite "waste and productivity collapse" in the public sector"

Ken Murphy warned the Chancellor against imposing new tax burdens on retailers ahead of the autumn budget. Reeves's budget earlier raised employers' national insurance contributions and the minimum wage, adding more than £7bn in sector costs. Tesco expects its employment bill to rise by £1bn over the next four years. Murphy called for pro-growth, pro-jobs policies and for large retailers to be excluded from the higher band of business rates. The 26 November budget timing risks denting consumer confidence before Black Friday and Christmas. Industry leaders and the BRC warned late changes create planning uncertainty. The Treasury defended the timing.

Read at Business Matters