Stuart Machin of M&S is not sparing Labour’s blushes ahead of the October 28 Budget with a blistering attack on business taxes.
Even Britain’s low octane financial lobby groups finally have been spurred into action with a passionate plea to spare the banks further tax punishment.
His full-fronted assault on the Government’s tax raids is a refreshing intervention by a retailer who, together with his chairman Archie Norman, is reinventing M&S for the mid-21st Century.
Machin’s charge that the last two Budgets ‘were a disaster’ will not be easy reading for their author Rachel Reeves.
The M&S chief executive backs up his words with figures.
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