Primark has only scratched the surface What seems certain, however, regardless of how much Primark might be worth, its success is likely to continue. A recent store opening in Berlin was its record first day to date, indicating how Europe is crying out for Primarks. Out of 242 stores in total, 65pc are in the UK. ABF has only scratched the surface with Primark geographically, but also socially. The very crude historical analysis would have had John Lewis serving the needs of the middle class, while Primark served those of the working class. That no longer holds true, as Primark's combination of fashion-conscious thrift appeals to all-comers, regardless of background or age. Its online presence (in which luck has played a part) has also become driven by its customers and their comments across their own networks encouraging people into stores rather than a traditional e-commerce strategy. But ABF and John Lewis do have something in common with their family and mutual ownerships, which is their long-term approach to business, immune - at least in part - from stockmarket short-termism. Bolland faces race for improvements at M&S As for Marks & Spencer, its half-year results were an improvement from its first-quarter numbers. Marc Bolland has identified the problems correctly (supply-chain cock-ups, drab fashion, uninspiring merchandise, sub-scale web presence, lack of overseas stores). His problem now is to execute improvement in all these areas before his shareholders (most of who don't display much patience) get fed up. However good the food offer, he will ultimately be judged on fashion. Assuming Christmas is OK, if spring/summer 2013 doesn't fly and the improving trends hinted at on Tuesday fail to materialise in more concrete terms, then it's going to get bleak very quickly for the former Morrisons man. That said, turning around M&S is a five-year job and he's only been in the building since May 2010. Which is why 2013 is key. The impact of his new management team will be clear for the first time next year. As long as there is a clear direction of improvement, Bolland should get to complete the job. If improvements aren't apparent, then the chances of him getting a second chance are slim. Simplifying our tax system is fairest solution Amazon, Facebook, Google and Starbucks are among the world's smartest companies. Why, then, are they so seemingly dumb in refusing to pay what most of us would consider a fair rate of corporation tax? Can't they see they're a boycott away from oblivion? The answer is, of course, they can see that as clearly as anyone. But they're not tax dodgers. The tax rates they pay are the UK tax rates that apply to them under law here. And because these are the legal rates, they have to pay them under their legal duties to shareholders. If they announced they were going to withhold shareholders" cash and pay it to George Osborne instead, those companies would be shut down here not by a mob of angry protesters but a mob of angry shareholders. Osborne can't encourage investment here but then attack companies for abiding by our tax code. Tax is competitive - and the UK uses it as aggressively as anyone to attract wealth here. Rather than reverse that, a more rational approach would be to simplify our tax system to cut out loopholes while replacing them with clearer incentives to encourage activity such as job creation. A simpler tax system would be fairer for all and more effective in increasing revenues for the Treasury, too.