Chief executive criticises chancellor before budget that could prove bigger threat to business than ‘the incident’
You can tell Marks & Spencer is recovering from its cyber-attack trauma because Stuart Machin, the chief executive, now has time to indulge in some chancellor-baiting.
Rachel Reeves’ pre-budget speech on Tuesday was a “nothing” announcement, said Machin, that will just make consumers more worried. Even his mum had been calling him to debate what it meant. He makes a fair point. The warmup to the budget has been far too drawn-out and the chancellor’s clunky exercise this week in trying to manage expectations, even if it was primarily aimed at the bond market, only added to the sense of confusion. The budget should have happened a month ago.
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