Stuart Machin says the government’s latest tax policies risk stifling growth
M&S chief accuses government of raiding retail sector ‘like a piggy bank’
The chief executive of Marks & Spencer has accused the government of raiding the retail sector “like a piggy bank” with its latest tax policies as businesses face mounting financial pressures.
Stuart Machin highlighted rising National Insurance Contributions (NICs) for businesses and new packaging levies as major burdens on the industry. He called on the government to stagger NIC changes over time and delay the introduction of the controversial packaging levy, warning that these measures risk stifling growth.
“The long-term growth ambitions [of the government] are laudable, but they are at risk of remaining only that unless action is taken to encourage growth today,” he wrote.
M&S chief accuses government of raiding retail sector ‘like a piggy bank’
https://www.independent.co.uk/news/uk/home-news/marks-spencer-tax-nic-budget-b2694958.html