Rachel Reeves has been warned that further tax hikes will cause retailers to push up prices, cut jobs and halt shop openings.
The latest alert was issued by Andy Higginson, the chairman of JD Sports and the British Retail Consortium industry group.
He said ‘all’ retailers have already been left ‘looking to reduce their labour forces’ following a barrage of tax rises this year.
And now firms fear another raid after the Chancellor’s spending review on Wednesday.
Concerns that bosses are set to be hammered at the next autumn Budget were ignited after Ms Reeves said she had failed to shrink the public spending ‘envelope’. Major retailers, including Morrisons, Tesco and Sainsbury’s, have already axed staff.
