The departing head of John Lewis has described changes to employers’ national insurance and a lack of early reform in business rates in last month’s Budget as a “two-handed grab” from UK businesses.Nish Kankiwala, who is nearing the end of his two-year tenure as chief executive of the department store chain and Waitrose, said the group faced “tens of millions” in additional costs from next year following the Budget.
The industry body added that business rates will cost retailers an additional £140mn a year after April next year, although there is relief available for 250,000 premises that are typically occupied by small businesses.
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