Firms warn over impact of rising business costs

CHANCELLOR Rachel Reeves has come under pressure over rising costs for businesses as Currys, JD Wetherspoon and Morrisons laid bare the impact of tax hikes and policy measures.

- Chancellor Rachel Reeves LUCY NORTH

Pub group JD Wetherspoon warned over profits as it revealed a £45million hit in its first half from surging costs - including energy, wages and business rates.

It said profits in the first half are “likely to be lower" year-on-year, with the annual trading result also set to come in below the previous year, as rising costs took the shine off otherwise robust Christmas trading at the 800-strong pub chain.