Poundland cuts prices to ‘reduce costs for customers’ after Budget tax rises

From tomorrow, Poundland will bring down the price of essential lines such as milk, bread, eggs and sugar to £1, increasing the number of items at £1 or below from around 1,000 to 1,500.

The initiative means that across Poundland’s core range of around 5,000 items, approximately a third will be £1 or less.

Yesterday’s Budget brought tax rises totalling £40bn. The bulk will be born by businesses, including retailers, through higher national insurance contributions. However, there have been concerns that such changes will ultimately have a knock-on effect on employees through lower pay increases.

Poundland has also launched a ‘12 deals of Christmas’ promotion this week, with offers that change every Wednesday.

Poundland commercial director CJ Antal-Smith said: “While we have everything you need at Poundland for an amazing Christmas, we’re not going to forget the importance of everyday essentials that are the bedrock of every home’s cupboard and fridge. Amazing value milk, bread, eggs and sugar will be every bit as important to customers this Christmas as they look to keep within their budgets.”