Tax promises, defence targets and Iran: Andy Burnham’s budget headaches
As economic circumstances worsen, the PM’s commitments have left him and the chancellor in a tight spot When Andy Burnham made his first speech after returning as an MP, he promised that as prime minister he would oversee “the most significant change moment in our politics for 40 years”. His style, direction and communication has been a big shift from Keir Starmer’s approach, but as he heads into…
Allan Leighton, the chair of supermarket giant Asda, has warned that the UK's first Budget under Andy Burnham in October could be a "tipping point" for businesses and the economy. Leighton, who is working to turn around the struggling grocer, stated that the government must not hinder growth due to high taxes and increased costs for businesses.
He expressed optimism about the potential impact of the Budget on consumer confidence and national growth. Leighton, who previously led Asda to a successful £6.7bn sale to Walmart, expects the turnaround of Asda to take between three and five years, drawing a comparison to his previous tenure where it took four years. The retailer returned to growth in the seven weeks to mid-August, with like-for-like sales excluding fuel rising by 0.2%.
Leighton emphasized that Asda's clothing, petrol, and convenience arms could provide additional growth opportunities.
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