The government has given a business rates holiday to supermarkets but is this really necessary.?
Tesco's business rates amount to £700 million which is apparently equivalent to 50% of their profits for 2019. This week they announced a 60% increase to their dividends making the total dividends £657 million.
Tescos have employed a further 45,000 people and have increased the wages of staff working at the moment by 10%. They are also committed to pay £3 million per month to their food collection scheme. These are good moves but no where near the savings that they are making.
These measures were introduced fairly early by the Chancellor, long before he thought of the self employed and the small businesses. Many self employed people won't be getting any assistance other than benefits. Anybody who became self employed after 5 April 2019 won't receive the grant. There are many people who changed jobs or decided to start their own business this year - they also will get nothing other than benefits.
Napoleon called us a nation of shop keepers and in the past we were a great trading nation. Governments talk about small businesses as being the seed corn for larger businesses. if they don't review the aid packages there won't be much seed corn left to start up again.
Dinahmo Thu 09-Apr-20 15:19:36
vampirequeen Thu 09-Apr-20 17:38:12
Nandalot Fri 10-Apr-20 16:52:14
Nandalot Fri 10-Apr-20 16:52:42
Scentia Fri 10-Apr-20 17:39:17
Dinahmo Fri 10-Apr-20 17:59:51