🌟 Heads up, savvy shoppers! 🚨
The bigwigs of UK supermarkets have a message for us all: expect prices to soar if a new business rates surtax hits. In a bold letter directed to the Chancellor, they’ve warned that raising the tax burden on large retail spaces might leave us all shelling out more at checkout. 😬📈
Signed by top executives from Tesco, Sainsbury’s, Aldi, and more, the letter urges the government to shield grocers from the upcoming tax hike set for next April. With talks of high street discounts on the cards, big supermarket chains worry their business rates could climb significantly, making price inflation for our weekly shop an ongoing issue.
The Retail Consortium highlights that while large stores are few, they face a hefty slice of the rates bill. And let’s be real, any added strain is likely to end up reflected in our grocery receipts. The industry is already grappling with mounting costs from past budgets, including increased national insurance and new packaging taxes, so the pressure is real! 💼💸
The letter wraps up with a plea: reduce the retail tax burden to show support for the sector and tackle food inflation head-on. 🥦🍞🥕
Stay tuned, folks! With the Chancellor’s autumn Budget statement looming, every little helps in keeping our food bills manageable. 🤞👀