Brexit red tape risks prolonging inflationary crisis, retailers warn

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Rishi Sunak has been warned that his approach to Brexit bureaucracy and tax pressure risks prolonging the UK's cost of living crisis until 2024 .

Britain's biggest retailers said hopes of reducing inflation next year were under threat because the cost of doing business was still too high.

British Retail Consortium (BRC) said tackling costly post-Brexit bureaucracy risks prolonging ongoing price rises. in stores.

The retailers' umbrella body also said measures outlined by Chancellor Jeremy Hunt in the autumn statement could also fuel inflation.

The BRC's measure of store price inflation was eased to 4.3 percent in November, from 5.2 percent the previous month.

But the organization stressed that this Easing only means that prices in stores and supermarket shelves are rising less quickly.

And the BRC said the “hidden costs” of complying with post-Brexit rules have made it harder for businesses to keep prices low.

“Retailers are committed to providing an affordable Christmas for their customers,” said BRC chief executive Helen Dickinson.

” "They will face new headwinds in 2024 - from government-imposed increases in business rates bills to the hidden costs of complying with new regulations," she added. class="sc-482ou5-2 kPUwtn image align-none">

Rishi Sunak and Jeremy Hunt criticized for high tax burden

(PA Wire)< p>Ms Dickinson said : “The combination of these measures with the largest increase in the “national living wage” on record will likely block, or even reverse, the progress made so far in reducing inflation, particularly in the food sector. »

The BRC also said Mr Hunt's decision to maintain a planned increase in business rates from April would cost businesses £400 million next year, despite some pauses for ...