Rahel reeves Not requested for not Raise taxes In its autumn budget, Britain’s largest retailers warned that it could trigger high shop prices and have a knock-on impact on both domestic income and economy.
A report from British Retail Consortium (BRC) It was found that more than 56 percent of the retail finance heads represent more than 9,000 stores – there are “pessimistic” about trading situations in the next 12 months.
It comes after several major retailers including Iceland, Pounder And New Look, declared store closure Between the fall from Decision to increase national insurance for employers in the first budget of Chancellor.
BRC Chief Executive, Helen Dicinson urged the Chancellor that “do not add further costs on retailers and high roads and on high roads” in the upcoming budget “, warned that it would be” British people who suffer from knock-on effects on inflation “.
He said, “Retail was square in the previous budget firing line, with industry from £ 7BN in new costs and taxes with industry”, he said.
“Retail vendors have done everything to mold their customers at a high cost, but their thin margin and employees were unavoidable, given the increasing cost of employment.
Ms. Dikinson said: “The results are now being felt in homes, as there are many conflicts to face the increasing cost of her weekly shop.
“It is up to the Chancellor to decide whether to fans inflation flames, or support the everyday economy by supporting high road and local jobs.”
It comes Growing questions on this matter After a series of U-turn and spending pledge, including £ 5BN U-turn on welfare cuts.
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Ministers have already reduced significant savings from their departments, which were unveiled in June. spending reviewMeaning now there is a growing hope that Chancellor Instead, taxes will be forced to increase.
The BRC report warned of rising food inflation, predicting that it would reach 6 percent by the end of the year – currently above four percent – in a “important challenge” in a run -up for Christmas in the house budget.
Some of the main financial authorities said that their businesses were forced to increase prices as a result of national insurance and national living wages, while two -thirds (65 percent) predicted to move forward in the coming year.
In addition to the cost increase, 42 percent of the main financial officials said they had been admitted, while 38 percent said that they had reduced the number of jobs.
The BRC stated that it is reflected in official job figures, with about 100,000 less retail jobs in the first quarter of 2025 compared to the previous year.
More than one -third (38 percent) of CFO said that they had cut investment in local communities, while 15 percent had already delayed opening new stores.
This comes after the market research firm World Panel by nuclear, in the past, the Kantar reported that UK grocery prices had risen at their fastest speed for 18 months, which was amidst concerns about the increasing cost of shopkeepers.
The inflation of the grocery price increased by four weeks to 5.2 percent on July 13, which increased from 4.7 percent a month ago and the highest level since January 2024.
Data indicated that rising prices are scheduled to add £ 275 to the annual grocery costs of shopkeepers.
A spokesman for HM Treasury said: “We are a pro-business government that has overshadowed the corporation tax and has killed major trade deals with the European Union, America and India-to reduce the needs, protect jobs, protect jobs and fuel development.
“865,000 employers do not pay national insurance to employers as we have increased employment allowance, and as the plan has been set for change, the best way to strengthen public finance is by increasing the economy – which is our focus. What is our attention. Tax and change in spending policy is not the only way to do so, as is seen with our planning reforms, which is expected to develop by £ 6.8BN.”