Rank counts cost of VAT and NI

Leisure group Rank today became the first major plc to put a total on how much extra the emergency Budget would cost it.

The Mecca bingo and Grosvenor casinos operator said the rise in the standard rate of VAT and changes to the National Insurance regime would result in a net cost increase of about £2.5 million from 2011.

Rank said it would try to minimise the levies' impact on profits.