🚨 Heads up, shoppers! 🚨 Tesco, Sainsbury’s, and Boots have issued a wake-up call to Chancellor Rachel Reeves: brace yourselves as they predict rising prices following the autumn Budget. These retail giants, along with over 60 other major brands, have expressed concerns over potential tax hikes, warning they could jeopardise Labour’s promise of high living standards. 📈
The British Retail Consortium (BRC) delivered this urgent message just as employers grapple with rising costs, including increased national insurance rates and new plastic packaging taxes adding a staggering £7 billion burden. Some shops are passing on costs to customers, while others are feeling the pinch in their profits or freezing hiring.
Retail bosses say they’ve been doing their best to shield us from inflation, but sustaining this is getting tougher. Rising food and drink prices, up 4.9% last month, might reach an eyebrow-raising 6% soon, impacting our wallets just as winter energy bills loom. 😧🥶
Their plea also includes a significant reduction in business rates for retail, hospitality, and leisure sectors. The message is loud and clear: to nurture growth, we need stable prices, continued investment, and jobs. Stay tuned for updates as the debate on the Budget heats up! 🔍💼
What do you think about this news? Are you feeling the pinch at the checkout already? Share your thoughts in the comments below! 🛒💬