Retail is the most visible part of Britain’s economy.

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But I worry it will be all but invisible in next Wednesday’s Budget.

Before heading to the Commons to deliver his speech, Chancellor John Healey will pose for the traditional Budget Day photocall, holding the red despatch box aloft.

Two years ago, his predecessor Rachel Reeves opened her red box to reveal a tax double-whammy that hit retailers especially hard. By simultaneously raising employer National Insurance contributions and lowering the salary threshold at which companies have to pay them, that one decision added millions of Pounds to UK employers’ staff costs overnight.

Retailers, who often rely on part-time workers who previously were exempt from employer NI contributions, saw their wage bills soar more than most. The British Retail Consortium (BRC) estimates that the reduction in the NI threshold alone has since added £1.74bn to retailers’ costs.

Sadly, this has made many retailers reluctant to hire people. Job vacancies across the sector have halved in the past four years, and the days of students having a 'Saturday job' in a shop appear numbered. Just 25% of UK students have a part-time job,........

© LBC