The bosses of the UK’s largest supermarkets warn the chancellor against imposing higher taxes on the industry.
The bosses of the UK’s largest supermarkets warn the chancellor that they won’t tolerate a drop in profits, so will pass higher taxes onto their customers.
Tesco made £3.1 billion profit in the last year.
https://www.foodmanufacture.co.uk/Article/2025/04/10/tesco-profits-top-3-billion/
Before : caputalism will generate new supermarkets with lower prices!
Today: capitalismn will generate new supermarkets with higher profits!
Hmm. As much as I am willing to criticise huge profits.
Tescos turn over is approx £71b so £3.1 is below 5%
That really dose not seem like a huge profit. I’d honestly be more worried that only very large companies can really run on low % profit and survive. Meaning their existence allows them to put compete local mum and Pop companies.
True 3 billion is a a pretty small number.
It is huge. But so is the company so % is the only datathat matters.
On a store by store comparison. The average turn over of a local corner shop. Would not be able to support a family on 5% profit margins. They tend to function on 10 to 15%. And that is low compared to other industries.
As I pointed out. The issue is more. Tescos is so huge. 5%. Allows it to destroy all but other huge competition. So it prevents competition from ever getting a foot hold.
As all large corperation s will do when given the opportunity.
This 100%. Lot of brain dead takes here with “3 billion is a big number!”
Nods. It is also why the media uses such numbers.
It is intentionally trying to make a news article out of the profit rather then the size of the corperation.
The media’s owners etc. Do not want voters spending to much time worrying about how large corperation s are able to overpower all competitive attempts from new businesses. It goes against all the advantages they sell about capitalism. And may encourage voters to call for the breakup of such corps.
The real answer is to tax the rich. Taxing groceries more? Just more taxes on the poors.
Supermarkets are already pushing prices higher.
Yep! A lot is an excuse
This budget will be a tax on income, not big business, rightly or wrongly. The Treasury already learnt that lesson last time - they won’t repeat the mistake.
