Asda chair Rose calls for more government help for businesses, consumers
Retail stalwart Stuart Rose has joined business leaders in calling on the government to act on the cost of living crisis and the rocketing level of inflation.
The Asda chairman and former M&S and Arcadia chief executive has urged ministers to help struggling households amid the “tough times.”
Speaking on Aquis Exchange’s ‘Full & Frank’ podcast, Rose said Asda, which is one of the country’s biggest clothing retailers via its George range, was “at the front of the coal face” and hearing from many customers they were “worried about how they’re going to make ends meet,” reported CityAM.
He also said he wanted to see a VAT cut on fuel, alongside other tax cuts for businesses. “The one thing we know is that high tax, high spending doesn’t work,” he explained. “We’re doing what we can but no one single business can do this alone.”
He wants the government to do more to help low-income households in the face of inflation levels not seen for decades. And earlier this year, he’d criticised the government and the Bank of England for being too slow to see the 40-year high inflation levels approaching.
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