Tax rises making growth harder, claims retailer

OLIVER Bonas has cautioned that the UK economic outlook is “not easy” and that “growth (is) hard to come by” due to the tax increases implemented by Chancellor Rachel Reeves in her Autumn Budget last year.

- By JON ROBINSON

The new Oliver Bonas store in Eldon Square

OLIVER Bonas has cautioned that the UK economic outlook is “not easy” and that “growth (is) hard to come by” due to the tax increases implemented by Chancellor Rachel Reeves in her Autumn Budget last year.

The retailer also revealed a drop in its pretax profit for 2024, attributing this to rising costs, while expressing hope that the “government's growth ambitions start[ing] to bear fruit” as the year progresses.