The Treasury’s supermarket food price cap wheeze was bananas | Nils Pratley

Retailers such as M&S need not worry – the UK is not in a state of emergency and competition is clearly working Call for food price caps ‘preposterous’, says M&S boss “Completely preposterous,” said Stuart Machin, chief executive of Marks & Spencer, about the Treasury’s proposal for voluntary price caps on food staples. He was outdone in the outrage stakes by City analyst Clive Black at Shore Capital, who thought the government “appears to be losing its mind in an orgy of neo-Soviet policy ...

By Nils Pratley