Ocado blames Reeves’s tax rises for higher food prices

Ocado blames Reeves’s tax rises for higher food prices

Boss Tim Steiner says it is ‘unrealistic’ to expect Budget raid not to impact shopping bills

Ocado chief blames Reeves’s Budget for rising food prices as inflation climbs – Your Capital Minds

Ocado’s chief executive Tim Steiner has blamed Chancellor Rachel Reeves’s tax rises for pushing up the price of groceries, warning it is “unrealistic” to expect businesses to absorb significant increases in labour costs without passing them on to consumers. Speaking after the UK’s annual inflation rate rose to 3.6% in June, Steiner said the combination of higher employer National Insurance Contributions and a 6.7% increase in the minimum wage wa…

Ocado chief blames Reeves’s Budget for rising food prices as inflation climbs

Ocado’s chief executive Tim Steiner has blamed Chancellor Rachel Reeves’s tax rises for pushing up the price of groceries, warning it is “unrealistic” to expect businesses to absorb significant increases in labour costs without passing them on to consumers. Speaking after the UK’s annual inflation rate rose to 3.6% in June, Steiner said the combination of higher employer National Insurance Contributions and a 6.7% increase in the minimum wage wa…

Ocado Group boss blames Budget for hiked grocery bills - Retail Gazette

Ocado Group CEO Tim Steiner has blamed Chancellor Rachel Reeves’ Budget for raising family shopping bills.  The executive insisted that it would be “unrealistic” not to expect higher costs from the Budget not to result in food price hikes, The Telegraph reported. “Am I surprised to see inflation coming through? Of course not,” he said. “You can’t increase the cost of labour in food production and food distribution and food retailing in the way t…