Mike Ashley Criticises UK Government's High Street Policies as 'Populist'
Sports Direct founder Mike Ashley has written a scathing letter to Prime Minister Andy Burnham, criticising the government's cost of living and retail policies as "populist", accusing Burnham of "jumping on 'everyday fixes' or bandwagons" while businesses struggled with the government's "disastrous" business rates policies and higher employment costs. Ashley called on the government to use its first Budget, scheduled for 28 October, to lower costs for employers and address business rates, warning that Burnham's suggestion that further rates changes would come in the Budget were "too little, too late". The billionaire, whose Frasers Group owns Sports Direct, Flannels, House of Fraser, Evans Cycles and luxury department store Harvey Nichols, described a proposal to increase business rates on large warehouses in order to help reduce rates for pubs and clubs as "delusional". Downing Street said the government would "build a new economy that backs British business, delivers growth in every postcode and ensures the essentials in life are affordable again", adding that removing VAT from household electricity bills and reducing business rates for some firms was "just the start". Frasers Group employs 30,000 people across dozens of brands, and this month bought luxury department store Harvey Nichols with a promise of "significant restructuring". Ashley also raised the issue of retail theft, which he said cost Frasers Group approximately £40m a year.
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