Chief executive criticises chancellor before budget that could prove bigger threat to business than ‘the incident’ You can tell Marks & Spencer is recovering from its <a href=”https://www.theguardian.com/business/2025/may/03/inside-the-marks-and-spencer-cyber-attack-chaos”>cyber-attack trauma because Stuart Machin, the chief executive, now has time to indulge in some chancellor-baiting.Rachel Reeves’ <a href=”https://www.theguardian.com/uk-news/2025/nov/04/rachel-reeves-budget-tax-rises-speech-brexit-tariffs”>pre-budget speech on Tuesday was a “nothing” announcement, <a href=”https://www.theguardian.com/business/2025/nov/05/marks-and-spencer-profits-more-than-halve-after-cyber-attack”>said Machin, that will just make consumers more worried. Even his mum had been calling him to debate what it meant. <a href=”https://www.theguardian.com/business/nils-pratley-on-finance/2025/nov/05/marks-spencers-cyber-trauma-is-bad-but-clearly-manageable”>Continue reading…
First seen on theguardian.com
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