Several of the United Kingdom's largest retailers, including Tesco, Sainsbury's, John Lewis, and Boots, have warned Chancellor Jeremy Reeves that upcoming budget tax increases could adversely affect living standards and job growth. These companies have indicated they will be unable to absorb the additional costs, which may lead to higher prices for consumers. Industry leaders also caution that food price inflation could reach 6% this year due to the Labour Party's tax hikes and proposed increases in business rates. The retail sector emphasizes the need for fiscal stability to maintain a thriving market. Separately, Wes Streeting has issued a private ultimatum to pharmaceutical companies amid ongoing NHS pricing negotiations.