What Truss and Kwarteng could learn from Next CEO and Tory peer Simon Wolfson

The Next boss appeared to blame the government for the inflation causing his business real problems but didn’t mention the real lesson our political masters could learn from one of Britain’s most successful retailers, writes James Moore

Next CEO Simon Wolfson is a Tory peer and donor (Reuters)

Next CEO Simon Wolfson is not a natural critic of the government. He sits in the House of Lords as a Tory peer. He is the scion of a famous Tory family. He is a sometime party donor and a prominent Brexiteer, who was once featured in a Daily Telegraph rundown of “the right’s 100 most influential”.

His statements contained in the retailer’s half-year results are therefore worthy of scrutiny.

Here’s what he had to say about the current imbroglio: “The devaluation of the pound looks set to prolong inflation, even once factory gate prices ease. It looks like we may be set to have two cost of living crises: this year, a supply-side-led squeeze, next year a currency-led price hike as devaluation takes effect.”