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B&Q's owner calls for rethink on tax rises that will cost the group £45m
The Guardian
|March 26, 2025
The owner of B&Q has called on Rachel Reeves to reconsider planned tax increases for employers.
On the eve of the chancellor's spring statement to parliament, Kingfisher said the retail industry was just as innovative on AI and robotics as the US technology firms that could be handed tax cuts by Reeves.
Thierry Garnier, the group's chief executive, said increases in employer national insurance contributions and in packaging taxes would raise its UK costs by £45m this year.
An increase in the minimum wage next month will add to the bill.
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