Mike Ashley Calls Andy Burnham's High Street Plans Delusional

Frasers Group owner Mike Ashley criticized Prime Minister Andy Burnham's plans to revive British high streets, labeling the proposals "simply delusional" in a letter to the Labour leader. Ashley argued that the government is prioritizing media soundbites and regulation over critical financial issues, specifically citing disastrous business rates and the rising cost of employment as the primary drivers of business struggle.

Ashley warned that taxing larger retailers and online retail warehouses to fund business rate cuts for pubs and clubs would be counterproductive and further devastate the high street. He identified minimum wage increases and employer National Insurance contributions as significant obstacles to growth. Additionally, Ashley highlighted a shop-lifting epidemic, noting that Frasers Group loses approximately £40 million annually to theft, and called for stronger measures to protect staff and stores.

Downing Street defended the Prime Minister's record, stating that in his first month in office, Burnham has already removed VAT from household electricity bills, capped bus fares, and cut business rates for music venues, pubs, and clubs. The administration framed these actions as part of a broader strategy to lead a "cost-of-living government."