M&S boss: 'The last two Budgets were a disaster for businesses'

• Marks & Spencer chief executive Stuart Machin has urged Chancellor John Healey to reverse tax rises and ease business regulations in the Budget on 28 October.
• Mr Machin described previous Budget decisions as “disastrous”, revealing that national insurance hikes and business rate changes added £150m in annual costs to M&S.
• The retail boss called for a reversal of the lowered employer national insurance threshold, scrapping the proposed deposit return scheme, and securing an EU food deal.
• He warned that planned Employment Rights Act reforms must not harm flexible weekend employment by cracking down on low-hours contracts.
• A HM Treasury spokesperson said the chancellor is focused on long-term growth, highlighting existing support including corporation tax caps and business rates cuts.

IN FULL

M&S boss tells Healey to ‘take the handcuffs off Britain’ weeks before Burnham’s first Budget