The Entertainer axes new shops after Budget tax rise

Published On Nov 8, 2024, 4:01 AM

The Entertainer, a toy shop chain, has halted plans to open two new stores following a budget announcement that increased National Insurance Contributions for employers from 13.8% to 15%, and lowered the tax threshold. The company's decision also includes a hiring freeze at its head office. The increase in costs is likely to affect various retailers, pushing potential price hikes for customers. Other companies like Sainsbury's have also expressed concerns regarding rising costs due to the new tax policies, predicting a rise in inflation.