General · 20 May 2026
M&S boss calls food price caps absurd
Despite a governmental suggestion advocating for them, consumers might not observe upper pricing limits on crucial food products. M&S chief executive Stuart Machin called the idea of voluntary price caps "completely preposterous", suggesting taxes and regulations should be reduced instead. He observed that M&S currently suffers financial losses on foundational groceries, including dairy, baked goods, and tinned legumes, while securing only modest gains from other commodities like eggs and sugar.
Reported by Guardian · How we write briefs