Mike Ashley criticizes Andy Burnham’s high street revival plans

Billionaire entrepreneur Mike Ashley, founder of Sports Direct and Frasers, has criticized Prime Minister Andy Burnham’s plans to revitalize British high streets, labeling them “populist reactions” and “delusional.” In a letter to the Prime Minister, Ashley argued that the government is focusing on media soundbites and regulation rather than addressing fundamental economic challenges.

Ashley identified disastrous business rates and the rising cost of employing workers as the primary drivers of business struggles. He specifically criticized proposals to increase business rates on large warehouses to fund rate cuts for pubs and clubs, calling such a move “delusional.” Additionally, Ashley noted that retail theft costs his company approximately £40 million annually.

Prime Minister Burnham has pledged to revitalize “hollowed out” high streets by granting councils powers to block new vaping and betting shops and by cutting business rates for pubs by 20% starting in April. A Downing Street spokesperson stated that the government aims to build a new economy that supports British business and ensures essentials like energy and housing remain affordable.