Retail representatives have warned that upcoming changes in policy could lead to a loss of 300,000 retail jobs over the next three years. The Retail Jobs Alliance, comprising major retailers like Morrisons and Tesco, attributed this looming crisis to rising business rates and increased red tape. In a recent budget announcement, the government's decision to raise national insurance contributions is expected to heighten operational costs for retailers by approximately £7 billion. Industry leaders have appealed to the government to reconsider these measures to prevent further damage to the retail sector.
"Supermarkets are grappling with rising costs and steep taxes. Now we face the prospect of even higher business rates. We’d urge the Government to rethink its plans and protect all shops from a damaging new rates hike which would hit jobs and the high street."
"Retail businesses are facing an onslaught from the Government. Business rates hikes, 1970s-inspired employment laws and tax rises simply for employing staff will see the shutters closed forever on thousands of shops."
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