Politicians don't listen to us, say store bosses trends now

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The bosses of many of Britain’s biggest store chains have joined forces to call on the Government to provide urgent support for the High Street – including help on business rates and a clampdown on shoplifting.

Stuart Machin, chief executive of Marks & Spencer, said this weekend that politicians neither ‘understand nor value’ the importance of the retail sector to the economy.

He blasted ‘inaction’ and ‘increasing regulatory burdens’ for curbing investment in jobs and growth in the industry.

His frustrations are echoed by Alex Baldock, chief executive of the Currys electrical chain.

Nish Kankiwala, chief executive of the John Lewis Partnership, called for a long-term growth plan along with reform of business rates.

Richard Walker, boss of the Iceland frozen food chain, said: ‘We need more sane economic management from the Government, offering a breath of fresh air to clean up the damage inflicted by high inflation.’

The heads of pharmacy chain Boots and the Co-op are both demanding tougher action to combat shoplifting and violence against retail staff.

Machin, who has presided over a revival in the fortunes of M&S, told The Mail on Sunday: ‘I don’t feel that politicians understand or value British retail, and that’s a problem.

‘It’s a sector that employs over 3 million people – that’s 10 per cent of all jobs in Britain – and accounts for more than 5 per cent of our entire economy and pays £17billion in business taxes.’

He added that reducing these pressures would allow retailers to ‘invest in jobs, in skills and in growth – the very things that will get Britain’s economy out of the slow lane’.