Tax rises could push food prices higher, warn supermarkets

Leading figures from the United Kingdom’s major supermarket chains have issued a stark warning to the Chancellor of the Exchequer regarding potential tax increases targeting their sector. Industry executives caution that any new or elevated levies on grocery retailers would inevitably translate into higher costs for consumers, exacerbating existing pressures on household budgets. They argue that additional taxation would be difficult to absorb within current operating margins and would likely be passed on through increased food prices. This alert comes amid ongoing concerns about inflation and the cost of living, with supermarket bosses urging the government to avoid measures that could further inflate essential goods. Their collective message underscores the potential for tax policy to directly impact the affordability of food across the nation, appealing for consideration of the broader economic implications for consumers.