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Marks & Spencer chief executive Stuart Machin has written to Chancellor John Healey ahead of his first Budget, setting out six policy changes he says could support UK growth. The proposals include changes to the Deposit Return Scheme, employment rules, trade with the EU, employer National Insurance, business rates and packaging charges. These are Machin’s recommendations; the government’s response is not reported.
Marks & Spencer chief executive Stuart Machin has urged Chancellor John Healey to make six changes in his first Budget, arguing that reversing or adjusting policies on recycling, employment, trade, National Insurance, business rates and packaging could support UK growth and ease costs. Machin says he has written to Healey directly; the government’s response to his proposals was not included in the report published October 10.
Machin’s proposals range from scrapping the planned Deposit Return Scheme to changing the threshold at which employers pay National Insurance. He also called for amendments to employment rules, a food and drink agreement with the EU, reform of business rates and the removal of the packaging charge known as Extended Producer Responsibility. These are recommendations from the M&S chief executive, not announced government policy.
Machin said M&S faces £150 million in additional annual costs from the measures he criticised, on top of a tax bill of about half a billion pounds. He said the company plans to invest more than £2 billion over three years in stores, its supply chain and technology, and argued that extra taxes reduce the money available for investment. The figures and their characterisation are from Machin’s article.
On the Deposit Return Scheme, Machin said customers would pay an extra 20 pence per bottle or can from next October, refundable when containers are returned. He argued that retailers would incur substantial setup and running costs. On the other proposals, he said employment legislation should not treat ordinary weekend shifts as low-hours contracts; a deal with the EU could reduce food-trade red tape; and changing the employer National Insurance threshold could help businesses with many part-time and entry-level jobs.
The Costs Behind Machin’s Proposals
The proposals matter because they concern costs that retailers say can affect prices, hiring and investment. Machin argues that shops operate on thin margins and that added charges can be passed through the supply chain or leave less money for business spending. Those effects are his assessment; the report does not independently quantify how much any proposed change would reduce consumer prices or increase growth.
Retail is a large employer, and changes to employer costs or rules could affect businesses beyond M&S. Machin said the sector employs more than three million people. He also argued that business rates fall disproportionately on retail, claiming that the sector represents about 5 per cent of the economy but pays more than a fifth of business rates. If adopted, his proposals would require the government to weigh business costs against its revenue, regulatory and environmental objectives.
The Budget is a near-term point at which the Chancellor can respond to these demands. But Machin’s article does not set out a full fiscal assessment of his proposals or explain how any lost public revenue would be replaced. His case is that policy changes could aid growth without abandoning the government’s fiscal rules.
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Ahead of Healey’s First Budget
Machin’s article was published as attention turned to Healey’s first Budget, which the source says was due in three weeks. He welcomed the Chancellor’s emphasis on growth in a conference speech, saying Healey had referred to it 16 times and called it the long-term answer. Machin’s argument is that Budget measures should match that stated priority.
He also referred to the Prime Minister’s promise that Britain could have “hope again,” while saying it left questions about what the government would do for business and the economy in the coming year. Machin described the previous two Budgets as damaging to businesses and customers. That is his political and commercial assessment, rather than a neutral evaluation contained in the source.
His six requests cover distinct policy areas. Alongside the proposed recycling and packaging changes, he wants the government to address employment law and employer National Insurance, pursue a food and drink arrangement with the EU, and reform business rates. Machin said M&S pays about £170 million a year in business rates and incurred an additional £40 million payment under packaging rules in April. The article provides these figures as part of his case for reform.
“The Chancellor needs to restore hope among British businesses, and tell us what he’ll do now.”
— Stuart Machin, M&S chief executive
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Government Response Remains Unreported
The source does not report whether Healey or the Treasury has responded to Machin’s letter, or whether any of the six proposals will be considered for the Budget. It also does not provide independent estimates of the proposals’ effects on public finances, employment, prices, investment or growth.
Details of the Deposit Return Scheme’s implementation, the final operation of the employment provisions, and the timing or contents of a possible EU food and drink agreement are not established by Machin’s argument alone. His cost estimates for M&S and claims about wider sector impacts should be understood as figures and views he presented, not as independently verified findings in the report.
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Budget Decisions in Three Weeks
The next milestone is Healey’s first Budget, which the source described as due in three weeks from October 10, 2026. The Chancellor’s announcements will show whether the government intends to change any of the policies Machin challenged or instead retain them.
Until the Budget, Machin’s six requests remain proposals. Any assessment of their likely impact will depend on the government’s decisions, the detailed rules attached to them and evidence about how costs are distributed among businesses, workers, consumers and public services.
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Key Questions
What has Stuart Machin asked John Healey to do?
Machin set out six proposed changes: scrap the planned Deposit Return Scheme, amend employment rules, secure an EU food and drink deal, reverse the employer National Insurance threshold cut, reform business rates and remove the Extended Producer Responsibility packaging charge.
Has the government agreed to any of the proposals?
The report does not say that the government has accepted any of Machin’s requests. It also does not include a response from Healey or the Treasury.
When is Healey’s first Budget expected?
The source, published on October 10, 2026, says the Budget is due in three weeks. It does not give a specific Budget date in the supplied material.
What does Machin say the proposals could change for shoppers?
Machin argues that lower business costs could reduce pressure on prices, including food costs. The report does not provide an independent estimate of any price reductions, and his expected effects remain his claims.
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