Just what an embattled chancellor needs on the eve of a tax-raising budget: a leading retailer upping its profits forecast and singing about the joys of the UK economy.
Unfortunately, only the first bit is true. Kingfisher, owner of B&Q and Screwfix (and similar businesses in France and Poland), raised its profit expectations for its current financial year from £480m-£540m to £540m-£570m.
But it definitely didn’t ooze confidence in the UK outlook. Rather, Kingfisher noted “softening market conditions” and added: “We continue to be mindful of inflation, uncertainty ahead of the autumn budget a
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