The British Retail Consortium (BRC) warned on Friday that 400 large-format stores are at risk if they were included in the Government's new business rates surtax Primark bosses have issued a warning

The chief executive of Primark's parent company has slammed the Government's proposed business rates reforms as "mistaken" and warned they will pile additional strain on major retailers across UK high streets. George Weston, the billionaire head of Associated British Foods (ABF), told the PA news agency that the Labour Government " should not increase taxes on businesses any more" in November's Budget. ‌

This comes as Chancellor Rachel Reeves grapples with the challenge of boosting Treasury revenues whilst attempting to tackle a potential £40 billion shortfall in public finances

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