Budget tax changes will push up price of fresh food, says Sainsbury’s boss
by Sarah Butler from World news | The Guardian on (#6TFBM)
NICs increase will add 140m to wage bill of supermarket, which has announced 5% pay rise for staff
Changes to employers' national insurance contributions announced in the government's October budget will drive inflation, particularly on fresh food, according to the boss of Sainsbury's as he announced a 5% pay rise for workers.
It is coming at us fast in a way that was unexpected and will bring inflation as a result," Simon Roberts, the chief executive of Sainsbury's, said of the unexpected changes to NICs, which will add 140m to the Sainsbury's wage bill from April.
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