Chief executive of Tesco Dave Lewis has called Chancellor George Osborne to review an increase in business rates ahead of Wednesday’s (March 16) budget.
Lewis said the government was putting retail jobs at risk as the rates were “completely disproportionate”, according to The Guardian.
The supermarket chief, who has 300,000 people in the UK under his employment, supported a report by the British Retail Consortium that said there will be 900,000 fewer retail jobs by 2025 as costs including business rates, continue to rise.
“If the government is not careful, it is going to keep piling on the burden. Business rates are the single biggest tax Tesco pays – £700m a year. There is a real risk that [this] will put pressure on employment in traditional retail”, said Lewis.