7 Highlights

• UK retailers face £7bn cost rise due to budget changes.
• Retailers warn government of job cuts if costs persist.
• • National living wage hikes add £2.73bn to retailer expenses.
  • Tesco and M&S urge government to reconsider NIC thresholds.
  • Andrew Bailey supports retailers on unemployment risk concerns.
  • Critics want retailers to back public services despite costs.
  • BRC seeks dialog with Treasury to solve cost issues.