Business rates hike would drive up food prices, chancellor told
- The Chancellor is expected to change the business rates system, increasing tax bills for department stores and supermarkets.
- Ken Murphy, Tesco CEO, stated that the tax hike would increase pressure on struggling high streets and town centres.
- Simon Roberts, Sainsbury's CEO, warned that the changes to business rates would cause large companies to withdraw from high streets.
- The British Chambers of Commerce reported that businesses are being negatively impacted by taxes, which is affecting jobs and growth.
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Tesco and Sainsbury’s bosses fear business rates hike could harm High Streets - Grocery Gazette - Latest Grocery Industry News
The chief executives of Tesco and Sainsbury’s say the proposed increase to business rates for larger stores could damage the UK’s town centres. According to a report by The Telegraph,…
BRC, Tesco, And Sainsbury’s Warn Rates Hike Will Drive Up Prices And Accelerate Decline of The High Street
Chancellor Rachel Reeves has been warned that an expected increase in business rates for large stores and supermarkets in October’s Budget would drive up food prices even further and deal another blow to struggling town centres. Helen Dickinson, the Chief (more…) The post BRC, Tesco, And Sainsbury’s Warn Rates Hike Will Drive Up Prices And Accelerate Decline of The High Street appeared first on KamCity.
Coverage Details
Total News Sources7
Leaning Left1Leaning Right2Center1Last UpdatedBias Distribution50% Right
Bias Distribution
- 50% of the sources lean Right
50% Right
L 25%
C 25%
R 50%
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