Emily Hawkins

The future of Poundland is hanging in the balance as its owners mull splitting up the business – with 12,000 jobs on the line.

Restaurant and retail bosses said they desperately need to be given breathing space in the Budget, as further wage rises will make it even harder for them to retain or take on staff.

Emily Hawkins Firms have warned that jobs will be put at risk as Labour faces a backlash over reported plans to hike the minimum wage again.

Restaurant and shop bosses have said they desperately need to be given breathing space on taxes at today's Budget, as further wage rises risk making it even harder to hire.

Ministers are asking questions of the retailer's private equity owners, which have been the source of outrage as it looks increasingly likely that the business will be split up.

Labour has been told there is only so much more that hospitality firms can take as it faces a backlash over plans to hike the minimum wage.

The Government is now asking questions about the deepening crisis at Poundland - as up to 12,000 jobs are on the line, including in the Prime Minister's constituency.

Businesses said last night that Labour must go 'faster and further' to tackle fundamental problems with how they are taxed or help with mounting costs - after small businesses were given a Budget boost.

The hospitality industry welcomed the ‘first positive Budget in years', which eliminated business rates for thousands of small firms, but said other rising costs are still hitting the High Street hard.

On Wednesday, businesses said Labour must go 'faster and further' to tackle fundamental tax problems or help with mounting expenses.