‘People are p----d off': How retail chiefs turned on Rachel Reeves [Yahoo! Finance]
TESCO PLC S/ADR (TSCDY)
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Source: Yahoo! Finance
But any hope of a new deal has turned to despair. The BRC this week sent Rachel Reeves a joint letter signed by some of the biggest names in British retail, warning the Chancellor that her plans are going to have disastrous consequences for workers and shoppers. The sudden souring of relations, echoed to greater or lesser extent across business, has left many industry leaders questioning if City lobby groups were naive in their scramble to appease the Government. The boss of one UK retail giant says the feeling of “optimism and relief when Labour took office” has already collapsed. “Most chief executives and chairs had met the Chancellor and Prime Minister before the election and felt listened to,” they said. “The experience since has been very different – for many the line has gone dead. The bright hopes of last summer have turned to perplexity, then disappointment and now dismay. Disillusion has set in surprisingly fast.” He's far from the only one thinking that the tune
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