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Ms Reeves announced sharp rises in the minimum wage from April 2026
SPORTS DIRECT owner Frasers Group made a blistering attack on Chancellor Rachel Reeves — calling the Budget an “absolute st show of chaos”.
Chris Wootton, the retail giant’s chief financial officer, said the Government’s “tax in, tax out, up, down, left, right” approach had left businesses baffled.
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He branded the process “an abomination” — claiming ministers left it late, “flew kites” and then “pulled those kites down”.
Wootton told The Times: “One thing’s for sure. Rachel Reeves is not a Russian agent, because she’s so incompetent.
“If she was a Russian agent it would be too blatant. Her cover would be blown.”
Ms Reeves announced sharp rises in the minimum wage from April 2026 and scrapped the Covid-era 40 per cent relief on business rates.
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Despite the fireworks, Mike Ashley’s Frasers — which also owns Flannels, Game and House Of Fraser — yesterday reported a five per cent rise in revenues to £2.6billion for the six months to October 26.
Sports Direct’s new Liverpool flagship buoyed trade, while Flannels returned to sales growth.
The retailer said conditions had improved since last year’s cost-increasing autumn Budget.
It reported an adjusted pre-tax profit of £291million for the half-year, down three per cent on the year before.
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UPPER CRUST owner SSP has launched a review of its rail division in continental Europe amid falling passenger numbers.
The group, which runs food outlets at travel locations such as train stations, said it was considering “all potential options”.
Despite pressure on the rail arm, revenues lifted six per cent to £3.6billion.
In the UK, growth was helped by contracts at Bournemouth and Southampton airports.
THE construction industry shrank sharply in November as firms froze projects ahead of the Budget, data shows.
The S&P Global construction PMI fell to 39.4 from 44.1 in October — the weakest reading since May 2020 and well below the 50 mark separating growth from contraction.
Employment fell for the 11th straight month as new orders dropped at the fastest rate since early 2009 and wage costs rose.
A PORN company running 18 websites was fined £1million by Ofcom for failing to put robust age checks in place.
And AVS Group was hit with an extra £50,000 for ignoring information requests.
It was the regulator’s third fine under the Online Safety Act which took effect in July.
The company has 72 hours to introduce stronger age assurance or face a £1,000 daily penalty — capped at 60 days.
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More than half the 100 top UK adult sites now have age checks.
Ofcom’s Oliver Griffiths said: “The tide on online safety is beginning to turn.”
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