UK companies warn of growing consumer costs after Budget tax rises

Housebuilder Persimmon said it is ‘seeing signs’ of increases to building costs for 2025, in part pushed up by tax rises in the Budget (Mike Egerton/PA) - (PA Archive)

A growing list of British companies have warned of rising costs to consumers in the wake of Labour’s Budget.

The boss of Marks & Spencer said the retailer will take a £60 million hit from an increase in taxes on employers, adding that the company will do “everything we can” to avoid passing on costs to consumers.