Industry leaders, including JD Sports and Fullers, are raising alarms about impending price hikes due to recent tax increases proposed in the UK Budget. Simon Emeny, Fullers’ chief, indicated higher costs for drinks could manifest within six months. Andy Higginson from JD Sports emphasized that a rise in National Insurance and minimum wages would burden both businesses and consumers. With £40 billion in overall tax hikes, concerns persist about inflationary pressures impacting working individuals, many of whom still face financial hurdles since the pandemic.