Retail grandee Stuart Rose has said the government was too slow to move on the cost of living crisis and historic levels of inflation.
The Asda chair and former Marks & Spencer boss has urged ministers to help struggling households amid the “tough times.”
Speaking on Aquis Exchange’s Full & Frank podcast, Rose said Asda was “at the front of the coal face” and hearing from many customers they were “worried about how they’re going to make ends meet.”
Asda has introduced a new essentials range of affordable key products, as well as announcing price freezes on essential items until next year.
“We’re doing what we can but no one single business can do this alone,” he added.
Rose was keen to see a VAT cut on fuel, alongside other tax cuts for businesses. “The one thing we know is that high tax, high spending doesn’t work,” he said.
The government should do more to help low income households, he added. “The answer is everybody needs to pile in,” Rose said.
Earlier this year, Rose criticised the government and the Bank of England for being too slow to see 40-year high inflation levels approaching.
“We saw the signs last year that inflation was coming. I think the actions that have been taken to curb it have been a bit slow in coming,” he added
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