UK retail warns of inflation and job losses from budget, seeks Reeves meeting
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 19 2024
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Should l Buy ?
Source: Reuters
Retailers' Concerns: Britain's largest retailers have expressed their worries to finance minister Rachel Reeves about the recent budget, which they believe will lead to higher prices, job losses, and reduced investment in the retail sector.
Impact of Budget Changes: The budget's increase in National Insurance contributions and minimum wage is expected to raise costs for retailers by £7 billion annually, potentially resulting in inflation, slower pay growth, shop closures, and a reduction in entry-level jobs.
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
