More than 70 businesses including Tesco, Asda and Sainsbury's sounded the alarm in an open letter to the Chancellor.
Some of Britain's biggest retailers have warned that job cuts and price hikes are 'inevitable' after Rachel Reeves ' monster national insurance raid.
'We appreciate Government's focus on improving the fiscal situation and investing in public services; we also recognise the role businesses have in supporting this,' the letter said. More than 70 businesses including Tesco, Asda and Sainsbury's sounded the alarm in an open letter to the ChancellorMs Reeves unveiled an extraordinary £25billion hike in employers' NICs in the Budget last month
Another joint letter organised by UK Hospitality earlier this month raised fears that minimum wage jobs could become 'unviable' as a result of the NICs overhaul.
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