M&S boss urges Labour to reverse tax rises for growth

Summarised from 2 outlets · 3 reports · Updated 10 Oct, 11:13 · Archive

Stuart Machin, boss of Marks & Spencer, has urged Chancellor John Healey to reverse Labour's previous tax rises ahead of his first Budget on 28 October.

Stuart Machin, chief executive of Marks & Spencer, has called on Chancellor John Healey to reverse what he describes as the 'disastrous' decisions of Labour's previous two Budgets. Writing in the Daily Mail, Mr Machin urged Mr Healey to 'take the handcuffs off business' and 'restore hope' to get Britain growing again. His intervention comes just weeks before Mr Healey unveils his first Budget as chancellor on 28 October.

Mr Machin highlighted the financial impact of recent policy changes on his company. He said that policy changes, including a rise in National Insurance contributions and changes to business rates, have cost M&S £150m annually in new costs, as well as a tax bill of around half a billion pounds.

In his recommendations for the upcoming Budget, Mr Machin criticised Labour's rise in National Insurance contributions for businesses, saying it has driven up employment costs and fuelled job losses and recruitment freezes. He also called for the government to firm up a deal with the EU on food and drink, describing it as 'common sense'.

Mr Machin also attacked other recent policy decisions, including new recycling rules, a £2billion packaging tax, and changes to the business rates system, which he described as 'patently ridiculous'. He noted that these and other costs have pushed up the cost of doing business, leading to higher prices for customers.

Other business leaders backed Mr Machin's call, telling the Daily Mail that Britain needed 'a job-creation Budget' following what they characterised as Rachel Reeves' previous approach to enterprise. Mr Machin's public intervention underlines growing business concern ahead of the new government's first Budget under Andy Burnham's premiership.

How it is being reported

• M&S boss tells Healey to ‘take the handcuffs off Britain’ weeks before Burnham’s first budgetStuart Machin urged John Healey to undo the ‘disastrous’ decisions made in Labour’s previous two BudgetsThe Independent · 10 Oct, 10:57
• M&S boss tells Healey: Take the handcuffs off business and get Britain growing - as he savages Labour's 'crushing' tax policies just weeks ahead of first Burnham BudgetIn a landmark intervention, Stuart Machin branded Labour's previous efforts 'disasters' and 'a crushing disappointment for customers, colleagues and businesses'.This is Money · 10 Oct, 07:41
• M&S boss urges Labour to take the handcuffs off business as he brands their policies 'a crushing disappointment'In a landmark intervention, Stuart Machin branded Labour's previous efforts 'disasters' and 'a crushing disappointment for customers, colleagues and businesses'.Daily Mail · 9 Oct, 23:59

In this story: Stuart Machin · John Healey · Rachel Reeves · Andy Burnham · Marks & Spencer · Labour · Britain

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