In her budget, Rachel Reeves announced that business relief rates would be lowered and employer’s national insurance contributions would be raised.
However, the shop has said that they were not able to survive in the current retail environment after October’s budget.
At the time of the budget, the government defended its decision to raise national insurance by saying that “we’ve got to raise money to put our public finances on firm footing”.
Huttons, in the Putney Exchange, is a gift shop which became an iconic part of South London.
But the store - in the Putney Exchange - has now been forced to close down, with its owners blaming Labour's latest budget.
