economy
Mike Ashley slams PM's 'hot air and bo***cks' cost of living plan
BILLIONAIRE retail tycoon Mike Ashley has blasted the PM’s cost-of-living plan as “bo***cks” in a scathing letter to Downing Street.
TL;DR
- Mike Ashley has criticized the Prime Minister's cost-of-living plan, labeling it ineffective and a distraction from real business issues.
- He argues that crippling business rates and soaring staff costs are the primary drivers of business struggles, not the issues addressed in the PM's plan.
- Ashley highlighted that Frasers Group is losing an estimated £40 million per year due to shoplifting, and called for tougher measures to protect shopkeepers.
- He challenged the government's focus on recommended retail prices (RRPs), suggesting that price fixing by major brands is the real problem leading to higher consumer prices.
- Ashley's criticism comes after the PM's announced initiatives, including easier subscription cancellations, a crackdown on misleading discounts, and new powers to block certain shops on the high street.