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Story summary
- Ken Murphy, Tesco Chief Executive Officer, warned Chancellor Rachel Reeves that Budget tax increases could harm retailers.
- Tesco faced £235 million in National Insurance costs and £90 million from Extended Producer Responsibility packaging levy.
- Murphy urged a pro-growth Budget to ease living costs.
- Tesco raised its profit forecast for the year to £2.9–£3.1 billion and cut prices on 6,500 products.
