Sir Terry told The Sun that the latest National Insurance tax rise will cost Tesco an extra £15m this year.
Leahy said: “Apart from this, we are paying more into our pension fund, while businesses are also paying more for their insurance.
“I think that’s enough for the time being — let’s have a period where there’s encouragement for business to increase investment.”
And he added: “Not everyone is as fortunate as Tesco in that we can absorb these costs.”
Sir Terry also told The Guardian: "We want no more taxes. Consumers are keeping the economy going and the prospect of higher taxes or interest rates would be a big hit on consumer confidence."
Shoppers, smokers, drinkers and house-buyers could be in for some increased costs when Gordon Brown stands up to deliver his Budget speech at 12.30 today.
Analysts have mooted that after the crackdown on cross-Channel smuggling a rise in tobacco prices of between 8p and 13p could be slapped on a packet of 20 cigarettes - last year it was a 6p rise.
Brown might increase duty on alcoholic products after a five-year freeze on spirits duty and a two-year hold on beer and wine brought in to beat the 'booze cruisers'.
Spread better Cantor Index expects an extra 25p-35p on spirits bottles, 1.5p-3p on beer and 9p-11p on wine.
It also expects 1.5-2.5p more on a litre of petrol.
A rise in VAT could be on the cards with some reports suggesting the 17.5% tax on goods and services could rise to 19%.