Tax hikes are making growth hard to come by, says 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.

- JON ROBINSON

The Oliver Bonas store in Eldon Square, Newcastle. The retailer has warned that growth is proving hard to come by following the tax hikes contained in the last Autumn Budget

(Iain Buist)

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.