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Retailers warn Reeves of inflation and job losses after budget tax hikes

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A woman walks by a shop advertising its closure in Croydon, south London, Friday, Jan. 23, 2009. The British economy has officially sunk into recession, with government figures Friday showing the economy shrank 1.5 percent in the fourth quarter of last year as the financial crisis ravaged banks, retail and manufacturing. It was the biggest decline since the early days of Margaret Thatcher's government nearly 30 years ago. (AP Photo/Sang Tan)




Some of Britain’s biggest retailers have warned the chancellor that last month’s budget will stoke inflation in the economy and spark job losses as tax hikes add nearly £2.5bn to the industry’s annual tax bill.



Source link : https://news.sky.com/story/retailers-warn-reeves-of-inflation-and-job-losses-after-budget-tax-hikes-13253441

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Publish date : 2024-11-13 07:01:00

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