The Entertainer Halts Expansion Amid Tax Increases

The Entertainer has decided to halt the opening of two new stores due to an increase in National Insurance contributions, which will rise from 13.8% to 15% starting next April. Chief Executive Andrew Murphy indicated that the viability assessments of these stores were negatively impacted by the government's recent fiscal changes, prompting a hiring freeze at the company's headquarters. This tax hike, part of Labour's first budget since 2009, has drawn criticism from various retailers, including Sainsbury's and Marks & Spencer, who predict that rising operational costs will likely lead to increased prices for consumers. The government defends the tax increase as necessary for restoring economic stability after previous cuts. Other businesses are similarly reassessing their growth strategies in light of these changes, with significant concerns about the overall impact on the UK retail landscape.