Primark owner's boss urges Reeves not to hit shoppers with budget tax rises

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Chancellor Reeves Faces Pressure to Avoid Tax-Rich Budget

The boss of Associated British Foods (ABF), parent group of discount retailer Primark, has urged Chancellor Rachel Reeves not to implement a repeat of last year's tax-heavy budget that sent the retailer's sales into reverse. George Weston, ABF's chief executive, warned that any tax rises could have an impact on consumer confidence and instead called for targeted measures to "tax the rich folks" rather than sweeping increases in VAT or income tax.

Weston pointed out that Primark's Christmas ranges were now trading well in the UK but expressed concerns about the outlook for consumer spending, citing a steep drop-off in sales before last year's budget. He emphasized his personal experience with the previous budget, stating "I carry scars from [that] budget."

As Chancellor Reeves prepares to deliver her budget speech on November 26, Weston is urging caution, highlighting the potential impact of a late-budget on Christmas trading. With Primark's sales reversing from growth before last year's budget, he advised against another tax-heavy measure.

Meanwhile, ABF has launched a strategic review considering the separation of its fashion and food divisions. The review aims to maximize long-term value, with analysts estimating that a separated Primark could be worth more than £15.5bn.

Weston sees Primark as a key driver of growth for ABF, stating that its food business is "less well understood" but has potential. However, the strategic review also comes amid challenges facing the company's sugar and agriculture businesses due to higher costs.

Reeves will need to balance her budget priorities with consumer concerns, particularly given Primark's significant customer base, which was hit by higher energy and food bills.
 
im so worried about this tax thingy... i mean, who wants to spend less? 🤔 especially when christmas is just around the corner. chancellor reeves gotta be careful not to mess up primark's sales or the whole economy, you know? it's like they say: don't make people wanna save more than they already do 😅 anyway, i hope she finds a way to help people keep some cash in their pockets. maybe targetin those high-income earners would be a good idea? 🤑
 
🤔 I mean, can you blame George Weston for speaking up? His Christmas ranges are killing it in the UK and he's worried about another tax-heavy budget hurting consumer confidence... that's like, a valid concern, right? 🤑 I'm not sure how much more of these VAT or income tax hikes we're going to take. It's all about targeting the 'rich folks' instead, though - maybe that's a way to go? 💸 The thing is, Primark has such a huge customer base, so if they're feeling the pinch, it's not just them... 🤝
 
I'm not sure I buy into this whole "taxing the rich" thing 🤔. It sounds like a Band-Aid solution to me. If Chancellor Reeves is really concerned about consumer confidence, she should be looking at ways to support small businesses like Primark, rather than just targeting the wealthy elite 💸. And let's not forget that Primark's Christmas ranges are actually doing well in the UK... maybe we're all just being too harsh on budget talks 🎅️. Still, I'm keeping an eye on this strategic review - if ABF can make some magic happen with a separated Primark, that could be some good news 🤑.
 
I'm getting a bit worried about this tax-heavy budget thing... it reminds me of that time when we had the oil crisis in '78 and prices went through the roof 🚨💸. It's like déjà vu all over again! Anyway, I think George Weston makes some valid points - targeting those who can afford to pay more is a good idea. We should learn from history, right? Remember how the '80s were all about excess and, well, you know... 🤪📺. But seriously, Primark's sales are already taking a hit and I don't want Christmas shopping to suffer because of some tax measures. Let's hope Chancellor Reeves can find a balance between being fiscally responsible and keeping consumers happy 😊👍
 
I'm thinking about this... what does it say about our values as a society? We're already feeling the pinch of rising costs, and now we're being asked to take on even more taxes. It feels like we're just trying to make ends meet, but instead of getting some relief, we're being asked to dig deeper.

I'm not sure if I agree with George Weston's idea to "tax the rich folks" - it sounds a bit simplistic to me. Where does that even begin? What are we going to do, raise taxes on everyone above a certain income level? It feels like just another layer of complexity.

What I am concerned about is how this is going to affect people's lives. We're already struggling with food prices and energy costs - the last thing we need is more taxes to make things harder for us. As a consumer, that Primark range is still looking pretty good, but what if it's just a temporary reprieve?
 
I'm a bit worried about this tax-heavy budget, ya know? I get it that the gov needs to make some changes, but if we're gonna do it, can't we try to be more targeted? Like, instead of hitting everyone with VAT or income tax, why not just take a closer look at those who are doing alright for themselves and asking for a bit less?

It's funny, Primark is actually doing okay right now, especially their Christmas ranges. But if the gov goes and makes things worse, it could really hurt consumer confidence and all that. And with ABF launching this review about separating their divisions... it's like they're trying to find ways to maximize value, not just pass on more costs.

Reeves is gonna have a tough one ahead of her, balancing budget priorities with keeping an eye on consumer concerns. I hope she can find some middle ground that works for everyone 🤞
 
I'm keeping an eye on what happens next 🤔. Primark's sales were already struggling before last year's tax hike and now George Weston is sounding the alarm again 💸. I feel for consumers who are still reeling from the energy price cap increases, but it's also important that the government doesn't forget about other essential costs like food.

I'm curious to see how Chancellor Reeves will balance her budget with consumer concerns 📊. If she goes for a targeted tax approach, I'd be all for it 💯. It's not about punishing Primark or its customers, but about making sure everyone pays their fair share.
 
🤑 Taxing the rich is good, but don't tax Christmas sales, mate 🎅️. It's like asking if you wanna get a new TV when your old one breaks... most people won't splurge 💸.
 
I dunno why people are complaining about tax rises already 🤷‍♂️. If it means we can keep our prices low for Christmas shopping, I'm all for it 💸. But at the same time, I get what George Weston is saying - don't wanna scare off consumers with steep price hikes 😬. What's the point of having a balanced budget if you're just gonna punish people with more taxes? 🤔 It feels like the government's got its priorities all wrong. And can we talk about how Primark is doing alright despite the previous tax budget? 🤑 I mean, it's not like they're losing loads of money or anything 😂. Maybe Reeves should just listen to Weston and give some targeted relief to those who need it most 👍.
 
I don't get why everyone's so worked up about this tax-heavy budget thingy 🤔💸 I mean, I know George Weston has had a rough time before last year's budget 🙄 but can we not just think about the bigger picture? It's all about consumer confidence and stuff. If they're gonna increase VAT or income tax, can't they just make sure it doesn't affect those who need it more like lower-income families? I'm not saying it's an easy solution, but targeting "the rich folks" as Weston suggested seems a bit simplistic to me 🤑. And honestly, I'm more concerned about Primark's sales dropping after Christmas than the chancellor's budget 🎄😬
 
OMG u wont believe this... Chancellor Reeves is like "I'm not making any new taxes, I swear 🤣" but honestly it feels like she's just waiting for an excuse to raise them. Like, George Weston is all "tax the rich folks" 🤑 and I'm over here thinking "can't we just keep our Christmas savings intact? 😂" And then there's this strategic review thingy... Primark could be worth 15.5 billion quid 💸 but like how does that affect the common joe who just wanna shop at Primark without breaking the bank? 🤷‍♂️
 
OMG, like I know Chancellor Reeves is gonna have a hard time deciding on that tax budget 🤑. If she goes for another tax-heavy measure it could be like, super bad for consumer confidence and all that 💸. But at the same time, those rich folks gotta pay their fair share, right? 😏 It's all about finding that balance, you know? And speaking of balancing books, Primark is giving me major life 🤑. They're doing well in the UK, but I'm worried about Christmas sales 🎅. Let's hope Chancellor Reeves can bring some festive cheer to her budget speech 🎁 and doesn't make it too tax-y for us mortals 😅.
 
omg u think chancellors gonna go for that tax hike tho?! 🤑 like george weston is right on point though, if they do slap on another massive tax it'll be a total bummer for christmas shopping 🎅️ we need some targeted measures to help the common folk out instead of just taking more from our hardworking consumers 😕
 
I'm thinkin' Chancellor Reeves should be careful wiv this budget, ya get me? If she goes for another tax-heavy measure, it'll just be a bummer fer consumers like Primark customers. They're already dealin' wiv inflation & whatnot. And let's not forget, those high energy & food bills are still affectin' people hard. I'd rather see some targeted measures to help the less well off, instead of just slapdin' more taxes on everyone. It's all about balancin' the books while keepin' an ear out fer the little guys 🤑
 
I'm worried about the impact of this tax-heavy budget on consumer spending 🤔. I mean, I've seen Primark's sales reverse after last year's budget, that's not a good sign 📉. And now George Weston is warning Chancellor Reeves not to make the same mistake again 💸. It's like, we get it, taxes need to be paid, but do we really need to hit consumers with higher VAT or income tax right now? 🤷‍♀️

I think it would be better if they targeted specific measures that would help the rich folks pay their fair share instead of affecting everyone else 💸. I mean, come on, Primark's Christmas ranges are already doing well, but what about next year? 😬 And with the strategic review underway to separate Primark's fashion and food divisions, it's like they're trying to maximize long-term value without considering the impact on consumers now 🤝.

It's a delicate balance for Chancellor Reeves to make, but I hope she takes consumer concerns seriously, especially since Primark has such a big customer base that was hit hard by energy and food bills ⚖️. Let's see what happens next 🤞
 
😏 you know what's crazy? like I was just thinking about trying out this new recipe for vegan cupcakes and they turned out SO GOOD 🍰👍 but anyway back to the budget... I think it's a shame that Chancellor Reeves is getting pressure from Primark to not make any tax changes, I mean shouldn't they be focusing on helping their own business rather than trying to influence the government? 🤷‍♀️ and btw have you tried those new plant-based milk alternatives? game changer! 💦
 
I'm low-key worried about this tax-heavy budget thingy... I mean, we've all seen what happened last year, right? It was like a Christmas present for the government, but a big fat lump of coal for us consumers 😒👎. If they do it again, I can imagine Primark's sales taking another hit. George Weston is speaking truth to power on this one – we need targeted measures, not just a blanket VAT hike 🤑. And let's be real, who doesn't love the idea of taxing the rich folks a bit more? 💸 It's about time someone did that. I'm keeping an eye on how the Chancellor balances her budget priorities with consumer concerns, especially since Primark's customer base is, like, super important to the economy 📈💰.
 
omg u guys i cant even believe wat hes saying GEORGE WESTON IS LIKE TOTALLY SPEAKING FOR US 🤯 all these tax rises r like gonna kill christmas sales n we all no how dat feels rn so yeah pls chancellor Reeves dont do it lol seriously tho i feel for george he did have a rough experience last yr & now hes warning us bout another round of bad news i hope u guys saw primark's christmas ranges are doing ok but lets be real its not the same as last yr n we gotta worry bout energy n food bills affecting our pockets 🤑 anyway wunna think this strategic review might b good 4 abf tho if they can separate fashion n food divisions maybe itll help them recover from dat rough sugar business 🤔
 
I think Chancellor Reeves is walking a tightrope here... 🤝 The last tax-heavy budget had a huge impact on Primark, and now they're warning of another repeat - that's not exactly confidence-boosting for consumers 📉 If she goes ahead with sweeping tax rises, it could really hurt people's spending power. On the other hand, if she doesn't address the budget deficit, there might be calls for austerity measures and less money for public services 🤖 A more targeted approach to taxing the wealthy might be a better option - after all, they're the ones with the most disposable income 💸 To make things worse, Primark is launching a strategic review that could see the company split into two separate entities... either way, it's not great news for UK high streets 🛍️
 
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