Current Affairs

‘Lethal combination’ for UK retailers, says Tesco boss

Story by Michael Northcott

The chief executive of Tesco, Dave Lewis, has warned that the UK retail sector is facing a “lethal cocktail” of rising costs.

Speaking at the CBI’s annual conference, Lewis said rising business rates and the National Living Wage (introduced by George Osborne earlier this year) mean retailers will face an additional £14bn of costs over the coming five years.

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