Stuart Machin says shoppers are concerned about rising costs after chancellor failed to rule out manifesto-breaking tax rises<ul><li><a href=”https://www.theguardian.com/business/live/2025/nov/05/china-ends-tariffs-us-imports-soy-bean-levies-ms-profits-cyber-attack-business-live”>Business live latest updates</li></ul>The boss of Marks & Spencer has said Rachel Reeves has made his customers “more worried” about rising costs with her pre-budget speech as retailers prepare for the key Christmas trading period.Stuart Machin said his shoppers were “worried about rising costs and they did get more worried” after the chancellor <a href=”https://www.theguardian.com/politics/2025/nov/04/rachel-reeves-avoids-ruling-out-tax-rises-as-autumn-budget-looms”>failed to rule out breaking manifesto pledges not to raise key taxes in her speech on Tuesday. <a href=”https://www.theguardian.com/business/2025/nov/05/marks-and-spencer-profits-more-than-halve-after-cyber-attack”>Continue reading…
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