Britain’s biggest retailers say job losses ‘inevitable’ after Budget tax hikes

The UK’s biggest retailers have warned over job losses and price hikes because of Budget tax changes (Aaron Chown/PA) - (PA Archive)

Britain’s biggest retailers have warned the Chancellor that jobs will be cut and prices will have to rise as they face a more-than-£7 billion hit from Budget tax increases.

More than 70 businesses, including Tesco, Asda and Sainsbury’s, have told Rachel Reeves in an open letter that the changes announced in last month’s Budget mean price hikes are a “certainty”.