M&S is reporting half-year earnings on Wednesday and J Sainsbury is reporting interim results the next day. They’ve got an extra £200 million to pay to the taxman since last week’s budget…
Industry briefings are coming thick and fast that the resulting pressure to raise prices on food will be “intense” and a hike by next April is “inevitable.” Reeves said yesterday that businesses could “absorb” the cost of her massive tax hikes through “productivity gains.” Has she looked at the public sector in the last twenty years?
On top of hiking the cost of hiring the least well-off disproportionately, Labour’s taxes are now set to affect food, on which the poor obviously spend a higher proportion of their income. Guido gives you the “Party of Workers” latest as he gets it…
Speaking at his speech on how to achieve “progressive capitalism” Wes Streeting fired a dig and Andy Burnham:
“Bond markets are not bond villains and fiscal rules matter.”