Retailers call on John Healey to reduce national insurance contributions threshold in his first budget

Some of the UK’s biggest retailers and hospitality businesses, including Tesco, Costa Coffee and the Co-op, have met John Healey to urge him to cut the cost of employing young people in his first budget.

At the No 11 event on Tuesday morning, the chancellor heard from sector leaders – including the boss of Marks & Spencer, Stuart Machin, and Sainsbury’s chief executive, Simon Roberts – about the impact of the rise in employers’ national insurance contributions (Nics).