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.
