Sainsbury's has said it will hand back about £440m of business rates relief it received as support in the pandemic.
Supermarkets, whose sales have boomed in the pandemic, have been criticised for taking government support while paying dividends to shareholders. "With regional restrictions likely to remain in place for some time, we believe it is now fair and right to forgo the business rates relief that we have been given on all Sainsbury's stores.
But MPs have criticised supermarkets, who have remained open throughout, for taking around £1.9bn in help while paying dividends to shareholders, calling it an "absolute scandal".
They should be ashamed of themselves that they only felt pressured to do so after Tesco did.
Every little helps!
Amazon can you share any of your massive profits or JeffBezos still lining his own pockets...hmtreasury any desire or drive to reclaim cash, assume no political drive?
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Ireland Ireland Latest News, Ireland Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Sainsbury's hands back £440m in Covid business rates reliefUK supermarket joins Tesco and Morrisons in returning government state funds I think any co that pays a div in 2020/21 shld eom It’s getting hot in the Waitrose boardroom as Chomondley Poshington debates whether to reveal to the others that he spent it all renovating his duck pond What is the point handing money back to this government when they're spending every penny giving contracts to their mates?
Source: The Guardian - 🏆 84. / 53 Read more »
Sainsbury's hands back £440m in Covid business rates reliefUK supermarket joins Tesco and Morrisons in returning government state funds I think any co that pays a div in 2020/21 shld eom It’s getting hot in the Waitrose boardroom as Chomondley Poshington debates whether to reveal to the others that he spent it all renovating his duck pond What is the point handing money back to this government when they're spending every penny giving contracts to their mates?
Source: The Guardian - 🏆 84. / 53 Read more »
Asda and Aldi join supermarkets in repaying £1.7billion in business rates reliefASDA, Aldi, Sainsbury’s and Morrisons are set to hand back a collective £1.15billion saved from the government’s business rates holiday. It comes a day after Tesco said it’d retur… Excellent. Respect
Source: TheSun - 🏆 64. / 61 Read more »