Getty Images The National Farmers’ Union (NFU) has accused the government of “betrayal” as thousands prepare to gather in London for a rally against the planned changes to inheritance tax rules for farms. “To launch a policy this destructive without speaking to anyone involved in farming beggars belief,” NFU president Tom Bradshaw will say in his speech on Tuesday. The recent Budget announcement means that previously-exempt farms worth more than
High Street job losses are “inevitable”, prices will rise, and shops will close as the result of the tax increases in the Budget and other rising costs, a group of the biggest retailers in the UK is warning. Tesco, Amazon, Greggs, Next, and dozens of other chains are urging the Treasury to reconsider some of the measures. In a letter to Chancellor Rachel Reeves, they said the “cumulative burden” of
The operator of Pizza’s Hut restaurants in the UK is looking to raise more than £10m to help it cope with increased costs after tax rises on business were announced in last month’s Budget. The money could come from a sale of part of the business, or new investment from existing shareholders. It comes amid growing backlash from business owners who warn rises in employers’ national insurance contributions and the
Getty Images Farmers have descended on Llandudno to protest outside Welsh Labour’s conference Hundreds of protesters opposing changes to inheritance tax rules for farms gathered outside the Welsh Labour conference as the prime minister defended his government’s recent Budget measures. Farming unions have said the planned changes will have “disastrous” consequences. Sir Keir Starmer told the conference in Llandudno, Conwy, he would defend the Budget “all day long” for taking
LONDON (Reuters) – British Prime Minister Keir Starmer said on Saturday he would defend decisions taken in his new Labour government’s first budget “all day long”, while farmers protested over changes to inheritance tax. Addressing the Welsh Labour Conference in Llandudno, north Wales, Starmer did not refer to the farmers’ complaints directly, but he said he stood by the decisions made in finance minister Rachel Reeves’ Oct. 30 budget statement.
Prices in shops and pubs will rise as a result of tax rises on businesses announced in the Budget, two bosses have warned. Andy Higginson, chair of JD Sports and the British Retail Consortium, which represents supermarkets, said tax increases from April, including a rise in National Insurance, would lead to a jump in costs for shoppers. Higher drinks prices could show in as little as six months, added Simon
Primark owner Associated British Foods (ABF) has said the recent Budget may lead it to invest more outside the UK over fears the High Street will bear the “weight of tax rises”. George Weston, chief executive of ABF, said: “We’re an international business as well, we have choices about where we will invest.” It comes as the owner of the fast fashion brand reported a 43% rise in profits before
Getty Images Last month’s Budget raised the amount employers will pay in National Insurance Contributions Top pub and restaurant bosses have warned the chancellor that tax rises in last month’s Budget will “unquestionably” cause closures and job losses. In a letter, more than 200 signatories have said the hospitality industry is disproportionately impacted by an “unsustainable” hike in the amount employers pay in National Insurance contributions (NICs). It adds that
Shoppers could face higher prices as a growing number of big British firms warn about the cost of the National Insurance (NI) tax rises on employers announced in last week’s Budget. Sainsbury’s, Marks & Spencer and BT have all hinted at price rises, while pub chain Wetherspoons said “all hospitality business” will increase prices as a result of the tax changes. Meanwhile, Primark’s owner said on Tuesday it may invest
Getty Images The Entertainer toy shop chain says it has been forced to drop plans to open two new stores after the government said it would raise National Insurance (NI) Contributions for employers. Chief executive Andrew Murphy told the BBC the higher taxes, announced in last week’s Budget, meant it could no longer go ahead with the shops and it had also frozen hiring at its head office. A number
