Sainsbury's, Tesco and Boots have issued a joint warning as r etailers rally against Rachel Reeves's £7bn tax bill. Tesco, Sainsbury's and Boots are among the businesses calling on the Labour Party government to not impose more taxes on the business community.

A coalition of major high street and retail park businesses, including Tesco , Sainsbury's , Boots and John Lewis, have issued the joint warning. The Times newspaper has seen the letter and warned the companies are warning over their inability to shield UK households from skyrocketing prices.

The retailers stated: “As retailers, we have done everything we can to shield our customers from the worst inflationary pressures but as they persist, it is becoming more and more challenging for us to absorb the cost pressures we face.

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