British business buys pressure on the UK Fin Min Reeves

The Kingfisher home improvement retailer became the latest British company, which reported the negative influence on the part of the October Finance Minister Rachel Rivz – when she is preparing her latest update about the state of the British economy.

In its annual profit on Tuesday, Kingfisher, which has retail trafficking on the home, said the government’s policy “gathered the cost of retailers and affected consumer moods” when the sale of large tickets falls.

This is the latter in the British enterprises that criticized the Reiva ” Bumper tax tax budget Since the fall. The companies will now closely monitor the spring statement of the Riviz if it will update the legislators for their latest expenses and taxation at 12:30 in London on Wednesday.

Above the list of complaints of enterprises is a higher cost of employment after the government promised to increase national insurance from employers in October and increase the “national wage” by 6.7% from April 1.

On Sunday, Reivz defended the tax on the eve of the statement on Wednesday, telling Sky News that the government “launched a rally necessary to ensure state services and state finances,”.

However, a number of enterprises that came to consumers noted the concern of the government’s economic policy in the proceeds in this quarter. They include a supermarket giant TescoIt states that its higher deposits of national insurance can be up to £ 250 million (324 million) to annual costs, while the chairman of the JD WethersPoon, Tim Martin said that changes would cost each of its pubs 1500 pounds per week.

Schultz, CEO of Sportswear JD Sports, said policy means that the business is tempting to reduce the number of employees and the clock, “that will be bad news for the economy.”

This happens when the UK is fighting economic sluggishness, rising prices and wide uncertainty as a result of global US President Donald Trump’s trade tariffs.

Administration on budgetary responsibility (OBR), independent public value of the country, is Reportedly expected To reduce UK growth forecasts for 2025 on Wednesday, by halving the previous estimate of 2%.

AB Foods owned by the Primark fashion retailers accused the government’s budget of contributing to greater weakness of consumers in the country. Eoin Tonge’s financial director told analysts that customers on his brands were cautious, citing “shock and fear that made people pull the horns”. This opinion was shared by the company of Frasers Group Frasers sellers, which states that she saw a weaker confidence in the consumers around the budget message. Chief Financial Director of the company Chris Wuttan said Reuters that the company “felt we were hit in person.”

A number of negative corporate comments are expected to press on the jerk before her spring statement.

The British retail consortium called on the government to “introduce confidence in the economy”, warning that April’s tax contributions and the minimum wage will lead to £ 5 billion for retail costs, giving “many opportunities to push prices”.

The British Industry Confederation (CBI) stated that Reivz “should introduce a business with a serious confidence” on Wednesday.

“As a direct priority, the government must redirect so as not to increase the tax burden on business during this parliament,” Louise Helm, Chief Economist CBI said. “Establishing an ambitious goal for the cost of the NDCR, which facilitates investing in skills and taking measures to reduce the regulatory burden on business, will be a encouraging step that the government would understand what business should see from them.”

Goldman Sachs Chief Strategist Peter Oppenheimer, meanwhile, said on Monday CNBC that consumer problems and business confidence would focus on reducing costs rather than raising taxes this week, but stated that the government’s focus was “praising the goal”.

CNBC turned to the Treasury of the UK for comments.

. Holly Elite CNBC contributed to this report.