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£500mn and counting: companies reckon with UK Budget costs

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Sainsbury’s, BT and Wetherspoons among those warning that changes may force price rises for customers

Several of Britain’s largest employers will have to fork out more than half a billion pounds in extra costs after last week’s Budget measures, with customers facing higher prices as a result.

Meanwhile, BT chief executive Allison Kirkby described the group’s near-£100mn rise in costs as “just a new inflationary pressure that we need to suffer in our business”, estimating that changes to NI made up about 70 to 75 per cent of the total figure and the increase in the minimum wage the remainder.

 

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