Lidl and HMV say price rises and job cuts are likely due to UK budget

HMV owner says budget is bad news' while UK boss of Lidl says product inflation inevitable' despite returning to profit

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The bosses of Lidl and HMV have spoken of potential price rises and job cuts as a result of cost increases resulting from the UK government's budget decisions.

Doug Putman, the owner of the British entertainment retailer HMV, said the budget was bad news in general" and most retailers would be on a pause" in their expansion plans as the cost of employing staff rose. We won't open, we will wait," he said.