Lidl boss warns retailers are ‘reeling’ after Budget tax raid

cityam11-20 18:35

Lidl’s boss has warned about the impact of the Budget, days after co-signing a letter warning Rachel Reeves to change course. Photographer: Simon Dawson/Bloomberg via Getty Images The boss of budget ...

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Photographer: Simon Dawson/Bloomberg via Getty Images The boss of budget ...</p>\n\n<a href=\"https://www.cityam.com/lidl-boss-warns-retailers-are-reeling-after-budget-tax-raid/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4087","symbol_name":"商业印刷","start_time":0,"source_url":"https://www.cityam.com/lidl-boss-warns-retailers-are-reeling-after-budget-tax-raid/","article_id":"2484716194","we_media_id":null,"thumbnails":["https://www.cityam.com/wp-content/uploads/2024/11/005-Lidl-2.jpg?w=286&h=161&crop=1"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2484716194","pubTimestamp":1732098955,"sourceInfo":{"source_id":"cityam_highlight","name":"cityam"},"weMediaInfo":null,"summary":"Lidl’s boss has warned about the impact of the Budget, days after co-signing a letter warning Rachel Reeves to change course. Photographer: Simon Dawson/Bloomberg via Getty Images The boss of budget supermarket Lidl has warned retailers are “reeling” following Labour’s tax raid in the Autumn Budget.The German supermarket’s UK boss Ryan McDonnell said the discount brand was staring down the barrel of “tens of millions of pounds” in extra costs.This comes after the Chancellor unveiled a 25.7bn tax-raising package, with a change to employers’ national insurance contributions. This increased the rate of tax and reduced the level at which they must pay. Retailers are also set to be hit by an increase to the national minimum wage and packaging levies","collect":0,"end_time":0,"defaultTopTitle":"cityam.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4087":"商业印刷","BRC":"布雷迪","LU2065732104.USD":"ALLSPRING (LUX) WF GLOBAL SMALL CAP EQUITY \"I\" (USD) ACC"},"translate_title":"Lidl老板警告零售商在预算税突袭后“陷入困境”","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BRC":1},"content_text":"Lidl’s boss has warned about the impact of the Budget, days after co-signing a letter warning Rachel Reeves to change course. Photographer: Simon Dawson/Bloomberg via Getty Images The boss of budget supermarket Lidl has warned retailers are “reeling” following Labour’s tax raid in the Autumn Budget.The German supermarket’s UK boss Ryan McDonnell said the discount brand was staring down the barrel of “tens of millions of pounds” in extra costs.This comes after the Chancellor unveiled a £25.7bn tax-raising package, with a change to employers’ national insurance contributions. This increased the rate of tax and reduced the level at which they must pay. Retailers are also set to be hit by an increase to the national minimum wage and packaging levies \n\nThis week, Lidl joined other retailers including Tesco, Asda and M&S, in warning the Chancellor  job losses would be “inevitable” and price rises nailed on, because of the changes.  In a letter coordinated by the British Retail Consortium (BRC), 79 signatories, including bluechip retailers, Next, and Greggs, said they had “significant concerns” about the impact of the Budget on the retail industry and its knock-on effect “for inflation, employment and investment”.The BRC estimated that the retail sector will pay an extra £7bn in costs next year, with an additional £2.73bn spent on the minimum wage increase, £2bn on the packaging levy, and £2.33 on higher NICs.The retailers joined hospitality bosses and farmers in warning that cost hikes in the Budget – including the minimum wage, inheritance tax and employer’s national insurance contributions (NICs) – will decimate family businesses and labour-intensive sectors.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2484716194"}