Global Brands chief executive Steve Perez.

Rachel Reeves’ possible ‘milkshake tax’ could force a family business to move production oversees if it is introduced in the Budget next week, its boss has warned.

Global Brands chief executive Steve Perez said the rumoured changes to the Soft Drinks Industry Levy could lead to making the decision which would “be devastating for local employment and goes against everything we stand for”.

The businessman added that while drinks producers “are not opposed to reform or to improving public health”, they need “clarity, consistency and an openness to collaborate from the government”.

He also said that “changing the rules on sugar content for the third time in under a decade does not create a stable environment for investment or innovation”.

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