Majestic Wine blames Reeves' tax hikes as profit slashed

Majestic Wine slams Rachel Reeves' tax policies as profits nearly halve to £7.7m

Watford-based wine retailer says Chancellor's Budget and tax policies among factors behind profit falling from £14.3m to £7.7m in latest financial year

Majestic Wine blames Reeves' tax hikes as profit slashed

Majestic Wine has blamed Rachel Reeves and her tax policies for its profit almost slashing in half during its latest financial year. The Watford-based business said the “economic environment became more challenging” during the 12 months to 31 March, 2025, especially after the general election and the Chancellor’s first Budget. The chain added that these led to a “more fragile consumer confidence” due to cost-of-living concerns, and “uncertainty”…