Healey calls in retail and hospitality chiefs for pre-budget talks

The chancellor has called in the bosses of some of Britain's biggest high street names for talks ahead of a budget which they fear could trigger a fresh business rates raid.

Sky News has learnt that John Healey will meet retail, hospitality and leisure chiefs next Tuesday morning, 15 days before his first big fiscal statement.

Whitehall sources said executives from chains including J Sainsbury, Marks & Spencer and Tesco were among those who had been invited.

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The meeting has been convened to discuss 'the UK's retail, hospitality and leisure sectors, small businesses and the high street' , according to one source familiar with the invitation.

It will take place against a backdrop of concerns among large retailers that Mr Healey may choose to increase the business rates multiplier for their bigger outlets at a time when many are complaining the higher cost of employment.

In his speech to the Labour Party conference, the chancellor pledged to ease both the cost of living and the cost of doing business in this month's budget.

He may also raise the issue of youth unemployment following a recent commitment from retailers including Asda, Boots and John Lewis to create 100,000 new jobs.

The new scheme also includes backing from Costa Coffee and Currys, as well as other major supermarkets.

Hospitality chiefs warned this week that hundreds of thousands of jobs for young people are at risk unless their National Insurance bill is cut.

Earlier this week, Mr Healey held talks with bank bosses to discuss the economy.

The banking sector is also on alert for a significant hike in industry taxes in the budget.

The Treasury declined to comment.

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