Retailers Warn of Higher Food Prices Due to Tax Rises
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 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 are seeking government support to mitigate the impact of these costs on food prices and the retail sector as a whole.
Author's summary: Retailers warn tax rises may increase food prices.
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