Warnings from Young’s and Wetherspoons as business leaders say impact of Reeves’s tax rises have not been fully considered

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The pub chain Young’s has said it is preparing to take an £11m annual hit from rises in employer taxes announced in the budget, and signalled that some of this could be passed on to customers through higher prices.

The chief executive, Simon Dodd, said a rise in employer national insurance contributions (NICs), coupled with an increase in the national minimum wage, would result in “significant increased costs for our industry in the near term”.