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Sir Stuart Rose

Executive chairman, Marks & Spencer

“The last 12 months have been bloody difficult, but people’s confidence is back and interest rates are at their lowest. But we might see further unemployment, VAT will go up – it may go up as far as 20% by June 2010 – and income tax will increase for higher pay, so I’m quite nervous about next year. We may also have a new government, but the worst thing that could happen is we get a hung parliament, so people must vote comprehensively. But we’re fed up with being fed up, too. At Marks & Spencer, the pace of change over the next five years will be quicker than the last five.”

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