US EditionTax hike could lead to higher food prices, supermarkets warn
- Ahead of next month's Budget, bosses of Britain's biggest supermarkets urged Chancellor Rachel Reeves to exempt shops from a new business rates surtax in a British Retail Consortium-organised letter signed by Tesco, Sainsbury's, Aldi, Asda, Iceland, Lidl, Marks & Spencer, Morrisons and Waitrose.
- Properties with rateable values over 500,000 are set to be subject to a surtax, while smaller high‑street firms will receive reduced business rates, confirmed in next month's autumn Budget.
- Large retail premises account for a third of retail's business rates and the sector faces over 7 billion in additional costs in 2025, with Tesco reporting a 235m National Insurance cost this year.
- Supermarkets warned shoppers would bear the brunt, saying households would inevitably feel the impact if taxes rise and urged Ms Reeves to address retail's disproportionate tax burden.
- With food inflation expected to persist into 2026, Office for National Statistics data show staples have spiked — butter up 19%, milk over 12%, and chocolate and coffee rising 15%.
26 Articles
26 Articles
UK Supermarkets Warn Business Rates Rise Could Push up Food Inflation
Bosses of the UK’s biggest supermarkets are urging the Chancellor to exempt shops from a new business rates surtax, warning that shoppers will bear the brunt of higher costs. A letter, organised by industry group the British Retail Consortium (BRC) and addressed to Rachel Reeves, argues that limiting the tax burden on grocers would help tackle food inflation. It has been signed by UK executives and directors at Tesco, Sainsbury’s, Aldi, Asda, Ic…
Greedy supermarkets threaten retaliatory price rises against shoppers
A group of supermarkets have joined forces to threaten retaliatory price rises against shoppers. What are they retaliating against, you ask? Specifically, higher taxes. And all despite the fact these companies are absolutely raking it in: FUN FACT: Supermarket giants like Tesco and Asda increased their operating profits last year by 66%. We’re not in a ‘cost of living crisis’ – we’re in a ‘cost of GREED crisis’. — Canary (@TheCanaryUK) October …
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