B&Q boss doesn't have a problem with key Labour election pledge

The boss of B&Q is “comfortable” with Labour’s workers’ rights reforms - as the DIY chain revealed plans for 100 city centre stores. Critics claim Labour ’s proposed shake-up - including protection against unfair dismissal from day one and the right to flexible working - will be bad for business. But Thierry Garnier, chief executive of B&Q owner Kingfisher, joined other bigwigs in dismissing the threat.

The Frenchman said: “We are comfortable with the direction of travel.” His comments come as business secretary Jonathan Reynolds pledged to end the “culture of presenteeism” in the workplace, claiming a default right to flexible working would make staff more productive and loyal. Labour promised to introduce legislation on workers’ rights within 100 days of coming to power, with a bill next month which will also ban “exploitative” zero hours contracts.



Garnier said Kingfisher, which also owns Screwfix and chains in Europe, was comfortable with the plans “overall”. He added that the group already had a “very strong benefit package." He also welcomed Labour’s promised shake-up of business rates.

The party’s manifesto pledged to replace the current system with one that “will level the playing field between the high street and online giants.” It came as Kingfisher looks to open a wave of city centre B&Q stores, starting with London and then elsewhere. “We are targeting 100 stores in the future,” Garnier said of the new format.

The aim emerged as Kingfisher reported half-year sales fell 1.4% to £6.7billion, weighed down by weak trading in France.

Profits dipped 0.5% to £334million but were flattered by a £25m business rate rebate for B&Q. But Kingfisher’s shares jumped as it upped the bottom end of its full year profit target, with a new forecast of £510m to £550m.

.