GREEDY retail bosses threatened high street job cuts today in response to the government’s Budget measures.

Seventy top monopolies sent an open letter to Chancellor Rachel Reeves also warning of price rises because of the higher minimum wage and the boost in employers’ National Insurance contribution.

In a brazen attempt by big business to strongarm ministers, the British Retail Consortium’s letter claims companies cannot let these measures eat into their profit margins so prices must rise, jobs be axed and stores close.