Leading retailers warn Chancellor against 400m business tax hike
Warning: Chancellor Jeremy Hunt
Jeremy Hunt has been urged by some of the country's biggest retailers to avoid a 400m business rates hike that they say risks undermining the fight against inflation.
Bosses from Marks & Spencer, Greggs, Harvey Nichols, Tesco, Sainsbury's and B&Q are among 44 who have signed a letter asking for rates to be frozen.
The letter, coordinated by the British Retail Consortium (BRC), said firms had been battling to contain price rises despite costs soaring over the past 18 months taking a hit to profit margins.