fromLondon Business News | Londonlovesbusiness.com
1 month agoPackaging tax to push up prices for consumers - London Business News | Londonlovesbusiness.com
Following last year's Budget, where retailers were hit with £5 billion in extra employment costs due to higher employer National Insurance and rising National Living Wages, the industry has been left with little room to absorb additional costs. With EPR set to cost industry billions, this new tax will be yet another inflationary pressure, at a time when food prices are already rising fast, with The Bank of England estimating that the policy alone will add 0.5% to food inflation.