A major supermarket chain has cautioned that rising costs are creating difficult conditions for both households and food producers ahead of the holiday season, with consumers already struggling financially. The company’s CEO urged the government to avoid measures that could worsen financial pressures on businesses, warning that past increases to business taxes and employer contributions have already placed significant strain. With inflation and supply chain challenges still affecting operations, the warning highlights growing concerns over affordability for shoppers and sustainability for retailers. The full statement offers further insight into the industry’s outlook and policy recommendations.
Supermarket urges government not to ‘further aggravate’ pressure on costs for businesses in next week’s budgetSainsbury’s has warned of a “pretty challenging” market in the run-up to Christmas as households are “finding it tough” and food producers face rising costs.Simon Roberts, the chief executive of the UK’s second biggest supermarket, called on the government not to “further aggravate” pressure on costs for business in this month’s budget. He said it was “important this government does not repeat what we have seen in previous budgets” in raising business rates and employers’ national insurance contributions. “That’s been really hard,” he said. Continue reading...
