Retailers' warning on tax hikes in autumn Budget

MAJOR British retailers have issued a warning to the Chancellor that raising taxes in the autumn Budget could contradict her plans to improve UK living standards.

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Some of the county’s biggest chains, including Sainsbury's Boots, Currys, Lidl, Primark, Burger King and John Lewis, have signed a letter to Rachel Reeves sent by trade body British Retail Consortium (BRC). It warns that further tax rises on businesses could result in the Labour Government breaking its manifesto pledge to provide “high living standards”.

“Labour's manifesto made a clear and welcome promise to deliver good jobs and higher living standards but if future policy decisions lead to rising prices and fewer jobs, then those commitments are at risk,” the letter reads.