bbc.com
Budget May Push Up Prices
Sainsbury's and M&S warn that the recent Budget's National Insurance tax increases will likely cause price hikes.
English
United Kingdom
UkInflationBudgetRetailTaxesPrices
Sainsbury'sMarks & SpencerWetherspoonsPrimark
Simon RobertsStuart MachinRachel Reeves
- What are the estimated costs of the NI tax changes for Sainsbury's and Marks & Spencer?
- The NI tax changes will cost Sainsbury's approximately \u00a3140 million and M&S around \u00a3120 million, not including minimum wage increases.
- What are some potential broader consequences of the increased costs resulting from the Budget?
- The increased costs resulting from the Budget are expected to lead to higher inflation and may prompt some businesses to consider shifting investments overseas.
- What is the main concern raised by Sainsbury's and Marks & Spencer regarding the recent Budget?
- Sainsbury's and Marks & Spencer have warned that the recent Budget's National Insurance tax increases may necessitate price increases for consumers.
- How significant is the increase in National Insurance contributions in terms of revenue generation?
- The increase in National Insurance contributions for employers is set to generate \u00a320 billion annually, making it one of the largest single tax increases in British history.
- How have the CEOs of Sainsbury's and Marks & Spencer responded to the potential impact of the NI changes?
- Simon Roberts of Sainsbury's and Stuart Machin of M&S both acknowledged the potential for price hikes due to the increased costs imposed by the Budget.