By John Smith • 03 December 2020 • 17:59
IN these days of accountants and shareholders demanding profits almost over any care for consumers, five major supermarkets have confirmed that they will repay £1.7 billion (€1.87 billion) to the UK Government in respect of business rates relief received.
The four companies, Aldi, Asda, Morrisons, Sainsbury’s and Tesco all confirm that their sales have been much higher than expected and therefore they had no need to keep the funds, although cynics suggest that they have made the decision so they don’t have to face Government financial review once the pandemic is finished.
So far, the Co-op, Waitrose and Marks and Spencer have indicated that they won’t be refunding any of the money due to their financial situation.
Thank you for taking the time to read this news article “Business rates relief to be repaid by major UK supermarkets”.
Share this story
Subscribe to our Euro Weekly News alerts to get the latest stories into your inbox!
By signing up, you will create a Euro Weekly News account if you donâ€™t already have one. Review our
Married to Ophelia in Gibraltar in 1978, John has spent much of his life travelling on security print and minting business and visited every continent except Antarctica.
Having retired several years ago, the couple moved to their house in Estepona and John became a regular news writer for the EWN Media Group taking particular interest in Finance, Gibraltar and Costa del Sol Social Scene.
Share your story with us by emailing [email protected], by calling +34 951 38 61 61 or by messaging our Facebook page www.facebook.com/EuroWeeklyNews
Download our media pack in either English or Spanish.