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M&S Boss Accuses Labour of ‘One of Biggest Tax Grabs in History’

Stuart Machin said higher employer taxes and business rates are squeezing M&S as profits rebounded to £355.1 million after a cyber attack hit sales.

Summary by City AM
Marks & Spencer boss Stuart Machin has accused the government of mounting “one of the biggest tax grabs in history” in a scathing attack on Labour’s efforts to boost economic growth. The retail boss told reporters that the three Budgets since Labour came to power have resulted in about £73bn in extra taxes, claiming the [...]

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M&S boss accuses Labour of ‘one of the biggest tax grabs in history’

Stuart Machin said said the retailer’s business costs have been pushed higher due to policies from the Budget.

·London, United Kingdom
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dailymail.com broke the news on Wednesday, November 4, 2026.
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