UK retailers warn budget changes could lead to job cuts and higher prices, costing the industry over £7 billion annually.

UK retailers, including Tesco, Asda, and Sainsbury's, have warned that recent budget changes, including a £25bn National Insurance hike, could lead to job losses and higher prices, costing the industry over £7 billion annually. Insolvency experts predict a rise in business failures due to increased costs. Retail leaders have called for adjustments to the implementation timelines to give businesses time to adapt.

November 18, 2024
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