The boss of Marks & Spencer has attacked government plans to introduce a supermarket price cap in response to rising food prices.
Stuart Machin described the plans as ‘completely preposterous’ and said the retailer had not received any communication from the Government.
‘The first time I heard about the issue of price caps was when it was proposed by the SNP in Scotland. And then I read in the papers this morning. We have had no direct communication from the government’, he said.
And a top City analyst accused the Treasury of ‘madness’ and added: ‘It appears to be losing its mind in
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