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Representatives of UK's convenience sector as well as those of independent retailers have heavily criticised Chancellor Rachel Reeves for ignoring the pleas of retail in her Spring Statement, thus pushing some local store operators towards closure. Delivering the Spring Statement today (26), Reeves did not budge in reduction in business rate relief, National Insurance hike and in minimum wages. She said she will stick to her cast-iron "fiscal rules" and blames the Liz Truss mini-budget for pushing up borrowing rates and harming "ordinary working people" two years on. The Association of Convenience Stores has responded to the Chancellor's Spring Statement, warning that the impact of the Government's tax increases on retailers is already being felt, with more challenging conditions to come.