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 on premises with a rateable value of £500,000 or above.
In a letter coordinated by the British Retail Consortium, the retailers argued that such an exclusion would help tackle food inflation while also supporting jobs and future investment across the sector.
Retailers are facing over £7 billion in additional costs in 2025, including higher National Insurance contributions, employment costs and new packaging taxes.
Excluding retail stores from the proposed business rates surtax would help tackle food inflation.
Author's summary: Retailers warn of price hikes due to tax rises.
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