UK government must act on Iran war impact, retailers warn
- Britain's retail sector urged the government on Wednesday to address soaring costs from the Middle East conflict, as the British Retail Consortium warned that keeping a lid on rising consumer prices will be increasingly difficult without support.
- The Middle East conflict is driving up energy, production, and shipping costs, while retailers are absorbing "significant" additional costs alongside domestic pressures from higher national insurance contributions and wage increases.
- Polling by Opinium commissioned by the BRC showed 80% of people fear the Iran war will "push up food prices", while retailers have absorbed £6.5 billion in extra employment costs and £1.6 billion in packaging taxes.
- Food retailers met Chancellor Rachel Reeves in early April requesting removal of energy policy levies and asking to delay introduction of an updated nutrient profiling model for food and drink.
- Retailers warned that these costs will inevitably filter through to the till over the coming months, urging the government to follow Germany by reducing electricity costs for businesses to help keep prices affordable.
21 Articles
21 Articles
UK government must act on Iran war impact, retailers warn
Britain's retail sector called on the government to help with soaring costs as a result of the Iran war on Wednesday, warning that without support it will be harder to keep a lid on rising prices for consumers.
Iran war sparks food price fears with retailers admitting people 'right to be concerned'
Four in five people fear food prices will rise because of the war in Iran, and retailers say they are “right to be concerned”. The British Retail Consortium (BRC) has urged the Government to cut domestic costs to help them keep prices down for consumers. It says ministers could help by easing pressure on businesses from higher national insurance, packaging levies, new regulations, and business energy charges.It pointed out these were policy issu…
Daily Mirror
The Business TimesUK retailers issue warning amid fears of price rises from Iran war
The British Retail Consortium (BRC) said businesses were already absorbing higher energy and shipping bills
Retailers sound inflation alarm as costs pile into food chain - London Business News
UK retailers are calling on the Government to cut domestic business costs to help keep prices down for consumers, warning that global instability linked to the Middle East conflict is… The post Retailers sound inflation alarm as costs pile into food chain appeared first on London Business News
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