Greggs: Nigella Lawson stars in 2024 Christmas advert

       Greggs has come a long way since it was founded 80 years ago, when John Gregg started delivering fresh eggs and yeast to Newcastle families by pushbike.

       Ten years later he opened his first shop, Greggs of Gosforth. Today, the chain boasts an amazing 2,559 outlets across the UK, and is aiming for 3,000.

       DON'T MISS

       Powered by

       Thought you'd done everything to beat Labour's IHT raid? Then try this

       9 Comments

       Labour has left Britain just one shock away from financial disaster

       1056 Comments

       Food price inflation rises again as Britons rush to supermarkets in Christmas countdown

       Comments

       Spend it, gift it, protect it... but don't simply hand your inheritance to Labour!

       103 Comments

       Worried about Labour's 67% pension inheritance tax grab? Avoid it in one simple move

       55 Comments

       Chase Bank issues unwelcome three-day warning to customers with savings

       1 Comments

       Rachel Reeves dealt huge blow as UK businesses close at record rate following budget

       270 Comments

       UK bank offering free ￡175 cash bonus to new customers before Christmas

       Comments

       Savings provider increases interest rate on Cash ISA to 5.17% and earns 'excellent' rating

       Comments

       Rachel Reeves slammed by high street giant as shoppers warned prices are bound to rocket

       176 Comments

       Wetherspoons fans told prices will rise in stark warning

       6 Comments

       Stocks up, Bitcoin up, inflation up, Euro crashes! Here's what Trump means for your money

       660 Comments

       Reeves readies to unveil pension changes next week as UK still reeling from Budget

       932 Comments

       Doubt over next Bank of England move despite surge in demand as interest rates fall

       Comments

       Growth down, stocks down, jobs down, inflation up! Labour has already botched the economy

       1206 Comments

       Asda, Primark, Sainsbury's and M&S issue urgent price rise warning

       22 Comments

       Pubs sound the alarm over closures and job cuts following Rachel Reeves NI hike

       85 Comments

       President Trump will send stock markets wild - then this will happen

       1290 Comments

       How Rachel Reeves and Labour Party's carelessness will hit your weekly shop

       51 Comments

       Russia economy on the brink as bankruptcies explode and defence sector faces huge crisis

       66 Comments

       Thought you'd done everything to beat Labour's IHT raid? Then try this

       9 Comments

       Labour has left Britain just one shock away from financial disaster

       1056 Comments

       Food price inflation rises again as Britons rush to supermarkets in Christmas countdown

       Comments

       Spend it, gift it, protect it... but don't simply hand your inheritance to Labour!

       103 Comments

       Worried about Labour's 67% pension inheritance tax grab? Avoid it in one simple move

       55 Comments

       Chase Bank issues unwelcome three-day warning to customers with savings

       1 Comments

       Rachel Reeves dealt huge blow as UK businesses close at record rate following budget

       270 Comments

       UK bank offering free ￡175 cash bonus to new customers before Christmas

       Comments

       Savings provider increases interest rate on Cash ISA to 5.17% and earns 'excellent' rating

       Comments

       Rachel Reeves slammed by high street giant as shoppers warned prices are bound to rocket

       176 Comments

       Wetherspoons fans told prices will rise in stark warning

       6 Comments

       Stocks up, Bitcoin up, inflation up, Euro crashes! Here's what Trump means for your money

       660 Comments

       Reeves readies to unveil pension changes next week as UK still reeling from Budget

       932 Comments

       Doubt over next Bank of England move despite surge in demand as interest rates fall

       Comments

       Growth down, stocks down, jobs down, inflation up! Labour has already botched the economy

       1206 Comments

       Asda, Primark, Sainsbury's and M&S issue urgent price rise warning

       22 Comments

       Pubs sound the alarm over closures and job cuts following Rachel Reeves NI hike

       85 Comments

       President Trump will send stock markets wild - then this will happen

       1290 Comments

       How Rachel Reeves and Labour Party's carelessness will hit your weekly shop

       51 Comments

       Russia economy on the brink as bankruptcies explode and defence sector faces huge crisis

       66 Comments

       Thought you'd done everything to beat Labour's IHT raid? Then try this

       9 Comments

       Labour has left Britain just one shock away from financial disaster

       1056 Comments

       Food price inflation rises again as Britons rush to supermarkets in Christmas countdown

       Comments

       Spend it, gift it, protect it... but don't simply hand your inheritance to Labour!

       103 Comments

       Worried about Labour's 67% pension inheritance tax grab? Avoid it in one simple move

       55 Comments

       Chase Bank issues unwelcome three-day warning to customers with savings

       1 Comments

       Rachel Reeves dealt huge blow as UK businesses close at record rate following budget

       270 Comments

       Southern snobs and foodies used to sneer at Greggs but that changed overnight when in a stroke of marketing genius, Greggs unleashed the vegan sausage roll.

       Instead of laughing at Greggs, suddenly everyone was in on the joke.

       Nobody was laughing more than Greggs shareholders.

       In the decade before Labour's Budget, the Greggs share price climbed a staggering 406% to peak at ￡31.90, making it one of the most popular stocks on the FTSE 250.

       The company was briefly valued at a tasty ￡3billion. Now investors have lost their appetite for Greggs, and Labour is largely to blame.

       Don't miss... 'Growth down, stocks down, jobs down, inflation up. How Labour botched economy' [LATEST]

       Bakery chain Greggs is finding Labour's Budget hard to digest (Image: Getty)

       In her Budget on October 30, Reeves attacked British businesses on three fronts.

       First, she hiked employers National Insurance contributions from 13.8% to 15%. Then she doubled down by cutting the salary threshold for employer NI from ￡9,100 a year to ￡5,000.

       Finally, she turned a double whammy into a triple one, by hiking the minimum wage by an inflation-busting 6.7% to ￡12.21 an hour.

       Actually, there's a fourth as business rates will climb too.

       This is a disaster for Greggs, because those all those outlets require a huge army of staff, more than 30,000 in total.

       Many businesses will respond by cutting jobs but Greggs can't replace its staff with AI robots, at least not yet.

       So it faces a choice. Either take a hit to profit margins, or pass the cost to customers in the shape of higher prices.

       Reeves has left it with little choice.

       She's hammered a whole heap of businesses – led by the UK's most popular grocery chain Tesco, which employs around 350,000, and Sainsbury’s, which employs 175,000.

       Employers are already warning that this will send prices rocketing and drive inflation back up.

       Sportswear and trainer chain JD Sports – another big employer – said today that Labour's Budget raid will be “too much to bear” for Britain’s businesses

       I'm not criticising Labour for hiking the minimum wage. Greggs can stomach that. But piling on ￡25billion worth of NI onto employers at the same time has given it an awful lot to swallow.

       Don't miss...

       Rachel Reeves slammed by high street giant as shoppers warned prices will rocket [LATEST]

       'Rachel Reeves and Labour Party's carelessness will hit your weekly shop' [INSIGHT]

       'Only one man can save us from Ed Miliband before he wrecks UK economy' [REVEAL]

       Trending

       SUBSCRIBE Invalid email

       We use your sign-up to provide content in ways you've consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. Read our Privacy Policy

       Reeves will drive up shop prices, inflation and keep interest rates high. She is already destroying jobs at a time when Labour is trying to get people off benefits and back to work.

       The Budget isn’t the only reason Greggs shares have gone from red hot to ice cold. On October 1 the board revealed that sales growth had started to slow.

       Now Labour has given Greggs something else to worry about.

       Stock analysts at Deutsche Bank are urging investors to sell Greggs shares as a direct result of the Budget, saying the damage was even worse than expected.

       Greggs is a brilliant business that gave millions of cash-strapped Brits an affordable treat during the cost-of-living crisis. Now Labour has taken a big bite out of its business model.

       DON'T MISS

       Powered by

       Thought you'd done everything to beat Labour's IHT raid? Then try this

       9 Comments

       Labour has left Britain just one shock away from financial disaster

       1056 Comments

       Food price inflation rises again as Britons rush to supermarkets in Christmas countdown

       Comments

       Spend it, gift it, protect it... but don't simply hand your inheritance to Labour!

       103 Comments

       Worried about Labour's 67% pension inheritance tax grab? Avoid it in one simple move

       55 Comments

       Chase Bank issues unwelcome three-day warning to customers with savings

       1 Comments

       Rachel Reeves dealt huge blow as UK businesses close at record rate following budget

       270 Comments

       UK bank offering free ￡175 cash bonus to new customers before Christmas

       Comments

       Savings provider increases interest rate on Cash ISA to 5.17% and earns 'excellent' rating

       Comments

       Rachel Reeves slammed by high street giant as shoppers warned prices are bound to rocket

       176 Comments

       Wetherspoons fans told prices will rise in stark warning

       6 Comments

       Stocks up, Bitcoin up, inflation up, Euro crashes! Here's what Trump means for your money

       660 Comments

       Reeves readies to unveil pension changes next week as UK still reeling from Budget

       932 Comments

       Doubt over next Bank of England move despite surge in demand as interest rates fall

       Comments

       Growth down, stocks down, jobs down, inflation up! Labour has already botched the economy

       1206 Comments

       Asda, Primark, Sainsbury's and M&S issue urgent price rise warning

       22 Comments

       Pubs sound the alarm over closures and job cuts following Rachel Reeves NI hike

       85 Comments

       President Trump will send stock markets wild - then this will happen

       1290 Comments

       How Rachel Reeves and Labour Party's carelessness will hit your weekly shop

       51 Comments

       Russia economy on the brink as bankruptcies explode and defence sector faces huge crisis

       66 Comments

       Thought you'd done everything to beat Labour's IHT raid? Then try this

       9 Comments

       Labour has left Britain just one shock away from financial disaster

       1056 Comments

       Food price inflation rises again as Britons rush to supermarkets in Christmas countdown

       Comments

       Spend it, gift it, protect it... but don't simply hand your inheritance to Labour!

       103 Comments

       Worried about Labour's 67% pension inheritance tax grab? Avoid it in one simple move

       55 Comments

       Chase Bank issues unwelcome three-day warning to customers with savings

       1 Comments

       Rachel Reeves dealt huge blow as UK businesses close at record rate following budget

       270 Comments

       UK bank offering free ￡175 cash bonus to new customers before Christmas

       Comments

       Savings provider increases interest rate on Cash ISA to 5.17% and earns 'excellent' rating

       Comments

       Rachel Reeves slammed by high street giant as shoppers warned prices are bound to rocket

       176 Comments

       Wetherspoons fans told prices will rise in stark warning

       6 Comments

       Stocks up, Bitcoin up, inflation up, Euro crashes! Here's what Trump means for your money

       660 Comments

       Reeves readies to unveil pension changes next week as UK still reeling from Budget

       932 Comments

       Doubt over next Bank of England move despite surge in demand as interest rates fall

       Comments

       Growth down, stocks down, jobs down, inflation up! Labour has already botched the economy

       1206 Comments

       Asda, Primark, Sainsbury's and M&S issue urgent price rise warning

       22 Comments

       Pubs sound the alarm over closures and job cuts following Rachel Reeves NI hike

       85 Comments

       President Trump will send stock markets wild - then this will happen

       1290 Comments

       How Rachel Reeves and Labour Party's carelessness will hit your weekly shop

       51 Comments

       Russia economy on the brink as bankruptcies explode and defence sector faces huge crisis

       66 Comments

       Thought you'd done everything to beat Labour's IHT raid? Then try this

       9 Comments

       Labour has left Britain just one shock away from financial disaster

       1056 Comments

       Food price inflation rises again as Britons rush to supermarkets in Christmas countdown

       Comments

       Spend it, gift it, protect it... but don't simply hand your inheritance to Labour!

       103 Comments

       Worried about Labour's 67% pension inheritance tax grab? Avoid it in one simple move

       55 Comments

       Chase Bank issues unwelcome three-day warning to customers with savings

       1 Comments

       Rachel Reeves dealt huge blow as UK businesses close at record rate following budget

       270 Comments

       We can see the impact across the entire UK stock market, with Reeves wiping billions off company values at a stroke. No wonder the FTSE 100 has been sliding since Labour took power.

       Thanks to Reeves, British businesses are closing at a record rate. Greggs won't close but the Budget still leaves a nasty taste in the mouth.