M&S hit with £40m recycling-tax bill as costs mount

M&S is facing a £40m recycling-tax bill, adding to the mountain of costs it already faces from the Budget.
The food and fashion giant estimated annual bill derives from packaging levies that will start from October, according to two sources familiar with the costs.
The levy is designed to lower the amount of unsustainable packaging created by UK retailers, the Financial Times reported.
It is predicted to make as much as £2bn per year from the industry, according to the British Re