Some high street retailers like Greggs and Tesco have warned of price hikes in April, in response to the Chancellor’s Autumn Budget.
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00:00Some high street retailers like Gregg's and Tesco have warned of price hikes in April
00:06in response to the Chancellor's autumn budget. Back in October, Chancellor Rachel Reeves
00:11announced an increase in the national minimum wage and a higher employer national insurance
00:17rate but as a result the measures have prompted warnings from businesses about the impact
00:22on operating costs and as a result the impact on consumer prices. Since the budget, 80 retailers
00:28have signed an open letter to the Chancellor warning that the measures would make price
00:33hikes a certainty for many businesses and could even lead to job losses. CEO of Gregg's
00:39Roisin Currie said that while two thirds of the popular bakeries employees have received
00:44a salary boost, that this necessitates a price on some products. This includes the sausage
00:49roll which have risen in price by 5p in some parts of the country. Even the UK nightclub
00:55industry has warned that the planned tax hikes could push more venues to the brink
01:00of closure. What do you think about the impacts of the budget and potential price hikes?