M&S chairman issues stark UK warning as Britain branded 'anti-growth'

M&S chairman issues stark UK warning as Britain branded 'anti-growth'The retail veteran said rising costs and regulation are piling pressure on firms, warning smaller businesses face an even tougher challenge. Share Article Share Article Facebook X LinkedIn Reddit Bluesky Email Copy Link Link copied Bookmark Add us as preferred source Comments By Michael D. Carroll 05:21, Tue, Jun 2, 2026 Updated: 05:21, Tue, Jun 2, 2026 Britain has “rarely in history” been this anti-growth, the chairman of Marks & Spencer has warned. (Image: Getty)The chairman of Marks & Spencer has delivered a stark assessment of Britain's business climate, warning that excessive regulation and rising tax costs are making it increasingly difficult for companies to invest and expand.Archie Norman used the retailer's latest annual report to argue that the environment facing businesses has become one of the least supportive of growth seen during his time with the company. Article continues below ADVERTISEMENT"There has rarely in the history of M&S been a time where the regulatory environment has been less friendly to growth and investment and our tax burden increased substantially in the year," he wrote.Despite the challenges, Mr Norman said Marks & Spencer would continue to press ahead, though he suggested many smaller firms may struggle to absorb the same pressures.He also warned that current policies were contributing to the ongoing deterioration of high streets and town centres across the country. Article continues below ADVERTISEMENTWhy is Archie Norman warning about UK growth?The veteran retailer pointed to a combination of regulatory demands and higher costs facing employers. Article continues below ADVERTISEMENTHis comments add to growing concern among business leaders, particularly in the retail sector, about the direction of government policy and its impact on investment, recruitment and economic expansion.Mr Norman said M&S would "sail into the wind and ride the wa...