Tesco boss tells Reeves: ‘Enough is enough' on tax rises [Yahoo! Finance]
TESCO PLC S/ADR (TSCDY)
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Source: Yahoo! Finance
The boss of Tesco has told Rachel Reeves that “enough is enough” on tax rises amid growing fears she will launch a fresh raid on businesses to plug a hole in Britain's finances. Ken Murphy, the retailer's chief executive, urged the Chancellor not to “make it harder” for supermarkets to keep prices down when she delivers her Budget next month. Tesco said it had been dealt a £235m blow from Ms Reeves's decision to raise National Insurance contributions paid by employers this year, while a new packaging levy will cost it £90m Mr Murphy said: “What we'd love to see from the next Budget is a Budget that's pro-growth and pro-jobs , which as a result will help customers with the cost of living. “We know that people are worried about what lies ahead and we're seeing that in the consumer sentiment. We operate in a very, very competitive and a very tough environment. “Our one ask is, don't make it harder for the industry to deliver great value for customers. “In the last Budget, th
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