Asda CEO Warns Tax Burden Hurts High Street | Business and Finance News

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Recorded28 Aug 2026

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Asda’s head warns the upcoming budget is a make-or-break moment for the economy, urging the government to halt damaging tax hikes on high street businesses that stifle growth and investment. He aligns with Mike Ashley’s fiery criticism of taxing big retailers to fund smaller ones, calling it “delusional” amid soaring business costs. Leighton highlights that current policies are eroding profits and stifling reinvestment — basic economics, he insists. Yet, there’s cautious optimism at Asda: sales have risen for the first time in over two years, marking a pivotal recovery start. He stresses consumer confidence post-holidays will dictate the rest of the year — especially the crucial Christmas rush — while also watching crop issues drive up produce prices, though Asda’s pricing strategy often keeps them below market rates, giving them an edge during inflation. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/b49176eebaa1a63c

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