Tesco, Sainsbury’s and M&S warn high street faces 300,000 job cuts by 2028 Britain’s biggest retailers have warned nearly half-a-million shop floor workers could be sacked in the next three years.
‘We’re levelling the playing field for high street businesses by permanently cutting business rates and removing the £110,000 cap for over 280,000 retail, hospitality and leisure business properties, while also capping corporation tax.’.
The group, which also includes Asda, Primark and B&Q, said a ‘perfect storm’ of higher costs and red tape could lead to 300,000 job cuts.
(Photo by Dan Kitwood/Getty Images)] The alliance represents a third of all Brits working in retail and is campaigning against government plans to hike business rates on larger shops.
In Labour’s first Autumn Budget, they announced changes to business rates which included lowering the relief on the tax from 75 per cent, will decrease to 40 per cent this April.
