Lidl joins shops in repaying Covid rates relief
04/12/2020
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news
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business
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Retailers have so far committed to handing back £1.9bn after some faced criticism from MPs.
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Finkelstein
04/12/2020 13:03:46
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2
bbc
Good news that Lidl have joined the other major supermarkets and repaid the business rate relief. In fairness to Tesco they started the ball rolling and that put pressure on Sainsbury and Asda to follow. Good to see big business have a moral compass.
Iceland needs to hand back their cash too.
The graphic appears to show that Asda and Sainsbury have done so.,
Tesco allegedly only did it as they have had a £10 billion windfall from the sale of their Asia business and are duty bound to pass that on to their shareholders and did not want the publicity that would cause if they held onto the money.Whilst the other supermarkets have morally done the right thing, they will all be out of pocket by doing so which may well result in higher prices down the line.
They were a Lidl slow to return this I think
Good news that Lidl have joined the other major supermarkets and repaid the business rate relief. In fairness to Tesco they started the ball rolling and that put pressure on Sainsbury and Asda to follow. Good to see big business have a moral compass.
This is a good PR move by Lidl and hopefully the other grocery retailers will follow.
The supermarkets have benefited from the lockdowns and it is morally wrong that they should receive government support while other retailers are prohibited from trading.
The supermarkets have benefited from the lockdowns and it is morally wrong that they should receive government support while other retailers are prohibited from trading.
Do try and keep up. Lidl is the last of the big six to do this.
Granted there's still Co-op, Waitrose and M&S to go but they're not major players.
Granted there's still Co-op, Waitrose and M&S to go but they're not major players.
Why do you think this is a return? The government never gave the money in the first place.
This is business rate relief.
Let's face it and Gordon Brown did it - governments can retrospectively tax
This is business rate relief.
Let's face it and Gordon Brown did it - governments can retrospectively tax
"In October, Tesco's chairman John Allan said he would "defend to the death" the board's decision to pay a dividend and that he didn't 'remotely feel any sort of guilt over it'."
Pretty much says it all, doesn't it?
Pretty much says it all, doesn't it?
Public company dividends help pay pensions through our pension schemes, as long as they have paid their fair share of tax as well as repaying covid help, this is all good news. John Allen's job is to generate dividends.
I hope that you and people who think like you will be happy with no companies paying dividends and therefore killing your pension savings stone dead and effectively valueless by the time you retire.
I despair that anyone can still think in such an illogical blinkered way.
I despair that anyone can still think in such an illogical blinkered way.
Says it all that John Allen is doing his job right. His job, as chairman, is to ensure that the business generates profits so that the people who have invested huge sums of money (a lot is our pensions) in the business see a return on that investment.
You surely can't be criticising the board of a big business for delivering returns to their investors? To do so would be the politics of envy.
You surely can't be criticising the board of a big business for delivering returns to their investors? To do so would be the politics of envy.
They can pay all the dividends they want as long as they pay back any state handouts first.
That is the only reason they paid the rates back so they can't be pressurised in anyway not to pay dividends and directors bonuses. no other reason.
Dividend NO!, Staff, shop floor staff only, Bonus yes. I have never worked in the retail sector or have any link, unbiased, BUT they stayed open, the workers, they deserve a bonus NOT Shareholders and NOT Senior\Management.
Waitrose and the Co-op can't ignore other retailers are handing the money back. M&S should also hand back for all of their food retail stores and a proportion of their larger stores which stayed open as food reatilers.
Waitrose and the Co-op are partnerships where the employees 'own' the company, not shareholders.
It's previously been in the news that Waitrose have not paid their employees a bonus this year, so the govt money has not been used to "reward" shareholders or staff, not sure about the Co-ops position.
It's previously been in the news that Waitrose have not paid their employees a bonus this year, so the govt money has not been used to "reward" shareholders or staff, not sure about the Co-ops position.
Good news that Lidl have joined the other major supermarkets and repaid the business rate relief. In fairness to Tesco they started the ball rolling and that put pressure on Sainsbury and Asda to follow. Good to see big business have a moral compass.
I stop short of applauding this as at the end of the day it is the right thing to do.
What do we think the chances of big tech donating x% of their increased profits for 2020 to each country they operate in to aid economic recoveries? Sorry, forgot it’s Christmas we’re approaching not April Fools Day...
What do we think the chances of big tech donating x% of their increased profits for 2020 to each country they operate in to aid economic recoveries? Sorry, forgot it’s Christmas we’re approaching not April Fools Day...
The only way they will do so is if enough of us speak up and make a real noise.
the big tech companies are all registered in overseas tax havens, so while it's a nice thought, it ain't ever going to happen.
Bumper profits people had nowhere else to go for food!
Food shops didn't close in the lockdown's and continued trading as they were essential, so why were they given these tax breaks in the first place?
Fair play to these businesses as they are repaying the money of their own accord.
It just shows the lack of planning and sloppy thinking by this government.
Fair play to these businesses as they are repaying the money of their own accord.
It just shows the lack of planning and sloppy thinking by this government.
BIG DEAL...
All supermarkets have made huge profits in 2020.
The GOV should hit them with windfall taxes to pay for the COVID crisis.
All supermarkets have made huge profits in 2020.
The GOV should hit them with windfall taxes to pay for the COVID crisis.
So have Amazon, ebay, facebook, et al. Also apple. Especially as they all hide behind tax shelters. Windfall taxes are absolutely needed there.
I agree, my Tesco shop has gone up by at least 25% for less items - someone is making lots of money out of this tragedy
Why should supermarkets be hit with a windfall tax.
They have invested in extra staff,screens,sanitiser stations,home deliveries etc.
They have provided the nation with food for the entire pandemic.
Every business has times when they can take advantage of current situations.
Can you imagine what scorn would have been placed on them if they had decided not to open?
They have invested in extra staff,screens,sanitiser stations,home deliveries etc.
They have provided the nation with food for the entire pandemic.
Every business has times when they can take advantage of current situations.
Can you imagine what scorn would have been placed on them if they had decided not to open?
"In October, Tesco's chairman John Allan said he would "defend to the death" the board's decision to pay a dividend and that he didn't 'remotely feel any sort of guilt over it'."
Pretty much says it all, doesn't it?
Pretty much says it all, doesn't it?
Think you summed up big business quite nicely there - customers come last on the list, way below shareholders and executives making as much money as possible...
Our pension schemes hold government & corporate bonds, not shares.
Only 2.4% of UK shares are held by UK pension funds
https://www.ons.gov.uk/economy/investmentspensionsandtrusts/bulletins/ownershipofukquotedshares/2018#beneficial-owners
Only 2.4% of UK shares are held by UK pension funds
https://www.ons.gov.uk/economy/investmentspensionsandtrusts/bulletins/ownershipofukquotedshares/2018#beneficial-owners
Standard response to justify such debased behaviour. Not forgetting he too would have benefited financially as a share holder too.
With taxpayer relief money. No thanks
I stop short of applauding this as at the end of the day it is the right thing to do.
What do we think the chances of big tech donating x% of their increased profits for 2020 to each country they operate in to aid economic recoveries? Sorry, forgot it’s Christmas we’re approaching not April Fools Day...
What do we think the chances of big tech donating x% of their increased profits for 2020 to each country they operate in to aid economic recoveries? Sorry, forgot it’s Christmas we’re approaching not April Fools Day...
All big tech will understand is a big hit on their revenue. Real noise or speak up won't do it. Are you willing to stop "paying"?
I won't be doing that. I like my shopping to be as cheap as possible. If the government decided to tax them more, I'd end up paying more... That would be OK if my tax bill went down as a result, but there's literally zero chance that my tax bill would be cut, so I'd end up worse off. Be careful what you wish for.
Good news that Lidl have joined the other major supermarkets and repaid the business rate relief. In fairness to Tesco they started the ball rolling and that put pressure on Sainsbury and Asda to follow. Good to see big business have a moral compass.
Tesco allegedly only did it as they have had a £10 billion windfall from the sale of their Asia business and are duty bound to pass that on to their shareholders and did not want the publicity that would cause if they held onto the money.Whilst the other supermarkets have morally done the right thing, they will all be out of pocket by doing so which may well result in higher prices down the line.
Good on Mr Pritchard for shutting the doors on 26th December, Pity other shops don't follow suit, it should be made compulsory to close Boxing Day! Essential workers do need that rest
It actually was compulsory in the past for shops to remain closed on Boxing Day, and Bank Holidays, and for them to only be able to trade for 8/9 hours for most days of the week (need to check the times here), and the pubs to only open for 8 hours on Saturday and 6 on Sunday but then-
It makes no difference to me I don't go in a shop on Christmas Day or Boxing Day.
What rubbish you write.I have been in retail nearly all my life and it is imperative for the high street ton survive that shops are open at these times
We should go back to normal hours, no late opening and no Sunday opening at all
shops should be able to open 24hrs a day, 365 days a year if they choose and they can get staff to work. Plenty out there need the work, so should be plenty of staff available at minimum wages too.
Some of the population aren't interested in Christmas - I have worked in a shop for the last 18 years and am more than happy to work for double time on Christmas Day and Boxing Day and have time off when I want it, not when I'm forced to thank you!
If everyone take these days off, then there is no electricity, gas, TV, hospitals, transport etc. You just sleep the wholetime as no fuel to cook the lunch.
I agree, retail staff work late on Christmas Eve putting sale stock/tickets and back in early on Boxing Day. Retail need time off as well.
So which is it? Many peoples' livelihoods have been terribly affected by Covid and (of course [yawn]) this 'tory' government's handling of it, or shops should be forced (by the government) to close on whatever days, so denying people the chance to work, earn and support the economy?
Sorry Pete but the Co-op is a Cooperative, not a partnership. The Co-op is owned by it's members, joe public, ordinary people like you and me. No big fat shareholders or directors awarding themselves bonuses.
They may have a lot of stores but their sales will smaller compared to the big boys. Costs incurred supplying hand sanitizer etc and making stores covid safe will be high in comparison.
They may have a lot of stores but their sales will smaller compared to the big boys. Costs incurred supplying hand sanitizer etc and making stores covid safe will be high in comparison.
They were a Lidl slow to return this I think
Odd that, I've always found Lidl checkouts to be the fastest around- it's down to their staff training. You could almost fall asleep at M&S tills though.
BIG DEAL...
All supermarkets have made huge profits in 2020.
The GOV should hit them with windfall taxes to pay for the COVID crisis.
All supermarkets have made huge profits in 2020.
The GOV should hit them with windfall taxes to pay for the COVID crisis.
Taxes, yes. Stop using their "services", it's all they will understand.
Yawn! Change the record. Latest UK Tax Gap figure is roughly £31billion. Of that, roughly £1.7billion is down to avoidance by folks like Amazon and so on, just 5.48% of the total. This, as well as the fact lawyers are really expensive, is why HMG concentrate their tax raising efforts elsewhere.
After banging on for years about how ethical they are have the Co-op taken an unethical stance on this and trousered the cash?
Co op are not the pile it high and sell it cheap kind of shop so may j not have benefitted as much.
Public company dividends help pay pensions through our pension schemes, as long as they have paid their fair share of tax as well as repaying covid help, this is all good news. John Allen's job is to generate dividends.
Yes, because customers treated supermarkets so well back in March when they panic bought until the shelves were bare...
1) The whole point of business is to make money otherwise what would be the point
2)Any business that put it's customers last would, unless they hold a monopoly, lose their customers and without customers would not make money - return to point 1
2)Any business that put it's customers last would, unless they hold a monopoly, lose their customers and without customers would not make money - return to point 1
FNLisa - your statement reflects your failure to understand democracy. We are talking about public limited companies who are owned by their shareholders. It neither your decision or anyone other non-shareholder to dictate the free running of a business. Business like Tesco believe in customers and when they don't, customer go elsewhere. Plenty of retailers who have found that out the hard way.
I think all businesses big and small, even independent operators like corner shops that have not been adversely affected should repay any taxpayers money, why should some businesses gain financially when they haven't suffered when so many previously viable businesses go to the wall because they haven't received enough Government help...
Credit where it is due; the MP's appear to have used their right to scrutinize well in this matter.
Really disappointed with Coop deciding not to pay back the business rate relief- I will have to vote with my feet and use one of the supermarkets who supports their local communities.
Think again.
Most of the time the only supermarket in your local community, and supporting it, is the Co-op.
Most of the time the only supermarket in your local community, and supporting it, is the Co-op.
"In October, Tesco's chairman John Allan said he would "defend to the death" the board's decision to pay a dividend and that he didn't 'remotely feel any sort of guilt over it'."
Pretty much says it all, doesn't it?
Pretty much says it all, doesn't it?
By the time the muppets in power have finished plundering the pension pots they will be worthless anyway - damned either way. Work hard all your life and do the right/responsible thing - get punished. Long live the revolution!! :-)
Dividends go to shareholders - 55% of who are overseas investors.
Only 2% of UK shares are owned by pension funds.
https://www.ons.gov.uk/economy/investmentspensionsandtrusts/bulletins/ownershipofukquotedshares/2018#beneficial-owners
Only 2% of UK shares are owned by pension funds.
https://www.ons.gov.uk/economy/investmentspensionsandtrusts/bulletins/ownershipofukquotedshares/2018#beneficial-owners
Sounds like their hands have been forced by Tesco's offer to repay rather than "the right thing to do" and on the other hand it's shows how loose a grip our government has with our cash
Not really. Anyone with a basic understanding of economics knows that less money in the public purse means higher taxes and less consumer spending. A pragmatic decision by supermarkets.
What about The Range? They've stayed open during two lockdowns and they have been heaving with customers!
BIG DEAL...
All supermarkets have made huge profits in 2020.
The GOV should hit them with windfall taxes to pay for the COVID crisis.
All supermarkets have made huge profits in 2020.
The GOV should hit them with windfall taxes to pay for the COVID crisis.
And Marks & Spencer, one of the UK's 'leading' retailers, who pays it staff minimum wage, charges premium prices, keeps the relief monies. Shocking.
Our Co-op is closing as it cannot compete in our town with the Big Boys.
"In October, Tesco's chairman John Allan said he would "defend to the death" the board's decision to pay a dividend and that he didn't 'remotely feel any sort of guilt over it'."
Pretty much says it all, doesn't it?
Pretty much says it all, doesn't it?
Retailers in the position to pay dividends to investors should repay/not claim any monies made available to them by the Govt. during this health and economic crisis. Retailers that bucked the trend and made profits (minus normal running costs) should do the same. It’s only fair to expect everyone to take some kind of economic hit including investors in companies that have done well!
If you are referring to the Tesco dividend then you should know that this was based on the 2019 profits & did not have anything to do with the pandemic. Great that Tesco et al are repaying money's & I agree that others should do so but HMG did not nationalise the economy & so businesses that could stay open & make money have done so legally. Remember dividends go to your pension fund too!
Can BBC let us know if The Range received this relief also?
The Range? Never heard of it...
Really disappointed with Coop deciding not to pay back the business rate relief- I will have to vote with my feet and use one of the supermarkets who supports their local communities.
Isn't the Co-Op's strategy to move into areas with existing small convenience stores/corner shops, muscle them out of business via brand recognition and sales, (People seem to ignore how overpriced most of their stock is when not on sale) and then pretend like they give a hoot about local communities?
Apologies. When I said "pier pressure" I meant peer pressure. I don't think seaside attractions were involved in this at all.
Iceland needs to hand back their cash too.
Co op are not the pile it high and sell it cheap kind of shop so may j not have benefitted as much.
Public that don't work these areas expect everyone else to work 24/7 to serve them, I'm sorry but it doesn't work like that,everyone is entitled to a family/social life
So it is ok to take tax payer's money to subsidise a bad retailer, keeping bad business going on free money taken from the public? They had he same chances being a food seller that the others did.
I just couldn't believe it that M& S are not repaying that tax. I've been a loyal customer for over 50 years ( food and clothes) and I'm so disappointed. I shall be shopping elsewhere. Shame on you.
Whilst I agree that the pandemic has, if anything, pushed more shoppers into supermarkets (from specialist shops), and of course it's good that they are now repaying the money, I don't blame them for taking it in the first place. If someone offers you money, you take it... no brainer.
The problem stems from a gov't who didn't bother to assess who would really need it, and just threw money around.
The problem stems from a gov't who didn't bother to assess who would really need it, and just threw money around.
BIG DEAL...
All supermarkets have made huge profits in 2020.
The GOV should hit them with windfall taxes to pay for the COVID crisis.
All supermarkets have made huge profits in 2020.
The GOV should hit them with windfall taxes to pay for the COVID crisis.
BIG DEAL...
All supermarkets have made huge profits in 2020.
The GOV should hit them with windfall taxes to pay for the COVID crisis.
All supermarkets have made huge profits in 2020.
The GOV should hit them with windfall taxes to pay for the COVID crisis.
Why should supermarkets be hit with a windfall tax.
They have invested in extra staff,screens,sanitiser stations,home deliveries etc.
They have provided the nation with food for the entire pandemic.
Every business has times when they can take advantage of current situations.
Can you imagine what scorn would have been placed on them if they had decided not to open?
They have invested in extra staff,screens,sanitiser stations,home deliveries etc.
They have provided the nation with food for the entire pandemic.
Every business has times when they can take advantage of current situations.
Can you imagine what scorn would have been placed on them if they had decided not to open?
BIG DEAL...
All supermarkets have made huge profits in 2020.
The GOV should hit them with windfall taxes to pay for the COVID crisis.
All supermarkets have made huge profits in 2020.
The GOV should hit them with windfall taxes to pay for the COVID crisis.
Removed
YOUR HAVING A LAUGH
Screw the country to the ground
Like the Green's, £250 missing from BHS pension pot, not £250 from Arcadia, yet both of them sitting in Monaco on a multi £m yacht
Screw the country to the ground
Like the Green's, £250 missing from BHS pension pot, not £250 from Arcadia, yet both of them sitting in Monaco on a multi £m yacht
I won't be doing that. I like my shopping to be as cheap as possible. If the government decided to tax them more, I'd end up paying more... That would be OK if my tax bill went down as a result, but there's literally zero chance that my tax bill would be cut, so I'd end up worse off. Be careful what you wish for.
You can’t blame the nightclub in Aberystwyth! Wales is closed till further notice or new management. Whichever comes first!
WE should now turn our attention on DIY stores which remained open during lockdowns, no doubt they also got business rate relief. I remember the pictures of long queues at
B & Q, Wicks and many others also took advantage.
B & Q, Wicks and many others also took advantage.
Why does everyone seem to think that paying dividends to shareholders is any different to paying staff? the shareholders are mainly pensions and insurance companies who will need this money to pay the same workers when they retire!
Why would anyone invest in a company if you didn't get a return? Even the independent shop keeper invests time and money in their business and takes a wage or some profits, they don't get criticised.
Because staff do the work but shareholders just collect the proceeds?
Shareholders are NOT "mainly pensions and insurance companies" - that's only 6% of them now. Most shares - 55% of them - are owned by overseas investors.
https://www.ons.gov.uk/economy/investmentspensionsandtrusts/bulletins/ownershipofukquotedshares/2018#beneficial-owners
Shareholders are NOT "mainly pensions and insurance companies" - that's only 6% of them now. Most shares - 55% of them - are owned by overseas investors.
https://www.ons.gov.uk/economy/investmentspensionsandtrusts/bulletins/ownershipofukquotedshares/2018#beneficial-owners
It’s a question of sharing the pain in the short term. In the long term there is a chance of recouping any loss for major investors such as pension providers. Most commentators do not appear against dividends per se, if companies can pay full dividends they don’t need public money which is needed elsewhere. This money was meant to keep jobs and businesses open, not enable payment of dividends.
Its not, its how shares work but Sir Phil as an example paid divis but underfunded the Pension scheme for years, sold the shops to his Mrs for pennies, they made millions on the leases rented back to the group paying divis & will now declare business losses then collect the insurance for said loses, build habitation in the said properties then cities & towns go back to the 19th century model!
Whilst I agree that the pandemic has, if anything, pushed more shoppers into supermarkets (from specialist shops), and of course it's good that they are now repaying the money, I don't blame them for taking it in the first place. If someone offers you money, you take it... no brainer.
The problem stems from a gov't who didn't bother to assess who would really need it, and just threw money around.
The problem stems from a gov't who didn't bother to assess who would really need it, and just threw money around.
If everyone has to have the Pfizer vaccine , at £47 for the 2 jabs , then this pays for over 40 million of our population. Not a bad start.
Retailers in the position to pay dividends to investors should repay/not claim any monies made available to them by the Govt. during this health and economic crisis. Retailers that bucked the trend and made profits (minus normal running costs) should do the same. It’s only fair to expect everyone to take some kind of economic hit including investors in companies that have done well!
If you are referring to the Tesco dividend then you should know that this was based on the 2019 profits & did not have anything to do with the pandemic. Great that Tesco et al are repaying money's & I agree that others should do so but HMG did not nationalise the economy & so businesses that could stay open & make money have done so legally. Remember dividends go to your pension fund too!
It’s not a question of legality but morals. The fact that one can do something doesn’t mean that one should. I’m conscious that pension providers invest in many kinds of businesses and that dividends are how they make money but dividends are impacted by all kinds of events (and the warning is always investments can go down as well as up!)
Do you realise how much money the government are handing out to try and keep companies in business. This should be for businesses that are facing closure legitimately, Tesco's were not in that position. They have grabbed at free money, tax payers money and then handed it out as there own. Its disgusting, John Allan should be taught some morals.
Good for them as well.
We going to See Arcadia do the same, like hell we are.
Sir and Lady Green have between them screwed the country of £250m from BHS pension pot, now doing the same amount from the Arcadia pension as well.
It is time the government took charge, pension pots belong to the worker, not the company, to play with, It should be a criminal offence touching that money, PAY IT BACK
We going to See Arcadia do the same, like hell we are.
Sir and Lady Green have between them screwed the country of £250m from BHS pension pot, now doing the same amount from the Arcadia pension as well.
It is time the government took charge, pension pots belong to the worker, not the company, to play with, It should be a criminal offence touching that money, PAY IT BACK
Whilst I agree that the Greens need to pay for the challenges in the Pension pots in their companies. Putting the money in Govt control give the opportunity for them to plunder the pot in good times. However, where the money is held and who controls Pension pots does need fixing.
Leave it to the government to take charge? Yes Gordon Brown thought that was a great idea too, remember!!
This is why you should sort your pension yourself.
No law to stop billionaires taking it. Very strange
No law to stop billionaires taking it. Very strange
Non executive directors are supposed to be the conscience of the Board. There have been pension scandals for years now, wasn’t it Maxwell who started it or Polypeck? Anyway whoever it was controls were apparently strengthened 30 years ago and yet we still see fraud like this on a big scale.
I am not a fan of Green,but if you look at all the facts he did not screw up the pension fund of BHS or Arcadia.He got his dividends many years ago.John Lewis has a deficit of over 1 billion and are you going to ask all the employees /partners to give back all their bonuses /dividends that they got over all the years
It’s easy to be dismissive. Yes, it’s not right for them to pay dividends having got tax payers help. This is the right thing for them to do, but they didn’t have to. It would be fairer to ensure online retailers pay their fair share and then actual physical stores in retail parks and on the high streets would be less likely to close down making our towns and cities less like ghost towns.
And Marks & Spencer, one of the UK's 'leading' retailers, who pays it staff minimum wage, charges premium prices, keeps the relief monies. Shocking.
Think again.
Most of the time the only supermarket in your local community, and supporting it, is the Co-op.
Most of the time the only supermarket in your local community, and supporting it, is the Co-op.
Isn't the Co-Op's strategy to move into areas with existing small convenience stores/corner shops, muscle them out of business via brand recognition and sales, (People seem to ignore how overpriced most of their stock is when not on sale) and then pretend like they give a hoot about local communities?
Why does everyone seem to think that paying dividends to shareholders is any different to paying staff? the shareholders are mainly pensions and insurance companies who will need this money to pay the same workers when they retire!
If you invest in a company you take a risk. You make a profit when the company does well and not if it is struggling. I pay 40% tax, why should my hard earned tax be used to prop up a company that passes my money straight into a shareholders pocket. If a company is taking a hit for whatever reason the shareholder takes a hit, not bailed out using someone else's money. Avoid M & S till they pay up.
Their staff are partners, salaries are relatively low but in normal times they also receive a profuit share that boosts their annual income
Covid hit profits which meant they made a loss, I think for the first time ever
No profit, no profit share and repaying any relief would increase the losses they incurred
Covid hit profits which meant they made a loss, I think for the first time ever
No profit, no profit share and repaying any relief would increase the losses they incurred
Why does everyone seem to think that paying dividends to shareholders is any different to paying staff? the shareholders are mainly pensions and insurance companies who will need this money to pay the same workers when they retire!
Because staff do the work but shareholders just collect the proceeds?
Shareholders are NOT "mainly pensions and insurance companies" - that's only 6% of them now. Most shares - 55% of them - are owned by overseas investors.
https://www.ons.gov.uk/economy/investmentspensionsandtrusts/bulletins/ownershipofukquotedshares/2018#beneficial-owners
Shareholders are NOT "mainly pensions and insurance companies" - that's only 6% of them now. Most shares - 55% of them - are owned by overseas investors.
https://www.ons.gov.uk/economy/investmentspensionsandtrusts/bulletins/ownershipofukquotedshares/2018#beneficial-owners
So you would like a stop to dividends? Do you not see the problem that with no prospect of a dividend investors will take their money elsewhere and the company folds. An investor has to have an incentive to invest in any company!
Uk shareholders own shares in overseas companies!
And Marks & Spencer, one of the UK's 'leading' retailers, who pays it staff minimum wage, charges premium prices, keeps the relief monies. Shocking.
From the 4th line of this BBC news story.
"It follows similar moves by the UK biggest grocers including Tesco, Sainsbury's and Asda, and will see more than £1.9bn handed back to taxpayers"
I thought this money would go back to the Treasury?
As a UK tax payer, I cant wait to get my share of the £1.9bn.
I know it wont be much, but Every Little Helps!
You just made my Christmas BBC News.
"It follows similar moves by the UK biggest grocers including Tesco, Sainsbury's and Asda, and will see more than £1.9bn handed back to taxpayers"
I thought this money would go back to the Treasury?
As a UK tax payer, I cant wait to get my share of the £1.9bn.
I know it wont be much, but Every Little Helps!
You just made my Christmas BBC News.
It's a shame that this money is being wasted by throwing it back at the Government. It should have been distributed to their hard-working staff, staff who are finally being recognized as 'key workers' but who still get paid a lot less than, say, policemen or nurses.
Give the money as staff bonuses instead !
Give the money as staff bonuses instead !
Good for them as well.
We going to See Arcadia do the same, like hell we are.
Sir and Lady Green have between them screwed the country of £250m from BHS pension pot, now doing the same amount from the Arcadia pension as well.
It is time the government took charge, pension pots belong to the worker, not the company, to play with, It should be a criminal offence touching that money, PAY IT BACK
We going to See Arcadia do the same, like hell we are.
Sir and Lady Green have between them screwed the country of £250m from BHS pension pot, now doing the same amount from the Arcadia pension as well.
It is time the government took charge, pension pots belong to the worker, not the company, to play with, It should be a criminal offence touching that money, PAY IT BACK
"In October, Tesco's chairman John Allan said he would "defend to the death" the board's decision to pay a dividend and that he didn't 'remotely feel any sort of guilt over it'."
Pretty much says it all, doesn't it?
Pretty much says it all, doesn't it?
Says it all that John Allen is doing his job right. His job, as chairman, is to ensure that the business generates profits so that the people who have invested huge sums of money (a lot is our pensions) in the business see a return on that investment.
You surely can't be criticising the board of a big business for delivering returns to their investors? To do so would be the politics of envy.
You surely can't be criticising the board of a big business for delivering returns to their investors? To do so would be the politics of envy.
From the 4th line of this BBC news story.
"It follows similar moves by the UK biggest grocers including Tesco, Sainsbury's and Asda, and will see more than £1.9bn handed back to taxpayers"
I thought this money would go back to the Treasury?
As a UK tax payer, I cant wait to get my share of the £1.9bn.
I know it wont be much, but Every Little Helps!
You just made my Christmas BBC News.
"It follows similar moves by the UK biggest grocers including Tesco, Sainsbury's and Asda, and will see more than £1.9bn handed back to taxpayers"
I thought this money would go back to the Treasury?
As a UK tax payer, I cant wait to get my share of the £1.9bn.
I know it wont be much, but Every Little Helps!
You just made my Christmas BBC News.
It's good that this has happened. I don't want to bang a well worn drum but if Amazon have benefited. Either directly or indirectly. Some of that needs to be clawed back. Even if it's just a one off increase or introduction of high rate band in corporation tax(which is only paid on profit) i favour a short sharp response over years of attrition.
Rubbish. Half or so of what is on sale at Amazon is from small sellers. These lazy generic blame Amazon is stupid, there are thousands selling properly on line, Amazon is just on big department store. With brilliant logistics.
German owned, yes, but that's not really an accurate representation of the real story.
As has been explained many times by many people, Aldi and Lidl have a much higher % of stock sourced from local suppliers than most of the other supermarkets. German owned or not, they are doing more to support UK businesses (especially small and medium farmers and food producers) than Tesco, Asda et al. do.
As has been explained many times by many people, Aldi and Lidl have a much higher % of stock sourced from local suppliers than most of the other supermarkets. German owned or not, they are doing more to support UK businesses (especially small and medium farmers and food producers) than Tesco, Asda et al. do.
Their staff are partners, salaries are relatively low but in normal times they also receive a profuit share that boosts their annual income
Covid hit profits which meant they made a loss, I think for the first time ever
No profit, no profit share and repaying any relief would increase the losses they incurred
Covid hit profits which meant they made a loss, I think for the first time ever
No profit, no profit share and repaying any relief would increase the losses they incurred
£35m in covid related costs!!!! what for? hand sanitisers, masks and a few screens in each shop and grooming salons..please..oh ..lets not forget the one way systems markers
So like... it's great they did that, but they didn't HAVE to. That's a problem.
I find it confusing the govt couldn't draw up some agreement whereby they would lend the money, then if a company had profits and could afford to pay it back. They would pay it back.
Any information on the worst offenders who still made profit an kept the money? I would like to see that so I know who to avoid.
I find it confusing the govt couldn't draw up some agreement whereby they would lend the money, then if a company had profits and could afford to pay it back. They would pay it back.
Any information on the worst offenders who still made profit an kept the money? I would like to see that so I know who to avoid.
Because staff do the work but shareholders just collect the proceeds?
Shareholders are NOT "mainly pensions and insurance companies" - that's only 6% of them now. Most shares - 55% of them - are owned by overseas investors.
https://www.ons.gov.uk/economy/investmentspensionsandtrusts/bulletins/ownershipofukquotedshares/2018#beneficial-owners
Shareholders are NOT "mainly pensions and insurance companies" - that's only 6% of them now. Most shares - 55% of them - are owned by overseas investors.
https://www.ons.gov.uk/economy/investmentspensionsandtrusts/bulletins/ownershipofukquotedshares/2018#beneficial-owners
1. Disappointed investors can sell shares, but the money they take elsewhere doesn't leave the company. Others pay to buy.
2. Shares aren't the only way to invest in a business - just the most suitable for speculation. Bonds pay returns to investors - but don't drive the destructive short-term management that chases dividends, share buy-backs & bonuses over investment, productivity & a future.
2. Shares aren't the only way to invest in a business - just the most suitable for speculation. Bonds pay returns to investors - but don't drive the destructive short-term management that chases dividends, share buy-backs & bonuses over investment, productivity & a future.
Trouble with this is that as these sums come off the balance sheet of the supermarkets, who exist to generate profit and returns for their investors (many of which are our pensions); prices will probably rise in supermarkets. That will hit the poorest people the hardest.
The gov't getting some money back won't result in tax reductions for average joe: normal people will actually be worse off.
The gov't getting some money back won't result in tax reductions for average joe: normal people will actually be worse off.
Because staff do the work but shareholders just collect the proceeds?
Shareholders are NOT "mainly pensions and insurance companies" - that's only 6% of them now. Most shares - 55% of them - are owned by overseas investors.
https://www.ons.gov.uk/economy/investmentspensionsandtrusts/bulletins/ownershipofukquotedshares/2018#beneficial-owners
Shareholders are NOT "mainly pensions and insurance companies" - that's only 6% of them now. Most shares - 55% of them - are owned by overseas investors.
https://www.ons.gov.uk/economy/investmentspensionsandtrusts/bulletins/ownershipofukquotedshares/2018#beneficial-owners
The public should boycott the supermarkets which are not handing the support back. If Tesco and Lidl can do it Waitrose, M&S and Sainsbury can! Its about morality!
Trouble with this is that as these sums come off the balance sheet of the supermarkets, who exist to generate profit and returns for their investors (many of which are our pensions); prices will probably rise in supermarkets. That will hit the poorest people the hardest.
The gov't getting some money back won't result in tax reductions for average joe: normal people will actually be worse off.
The gov't getting some money back won't result in tax reductions for average joe: normal people will actually be worse off.
Do you honestly think they won't, whatever the supermarkets do or don't do?
After Covid and Brexit and their mismanagement of both? You are, most surely, having a laugh.
Why does everyone seem to think that paying dividends to shareholders is any different to paying staff? the shareholders are mainly pensions and insurance companies who will need this money to pay the same workers when they retire!
It’s a question of sharing the pain in the short term. In the long term there is a chance of recouping any loss for major investors such as pension providers. Most commentators do not appear against dividends per se, if companies can pay full dividends they don’t need public money which is needed elsewhere. This money was meant to keep jobs and businesses open, not enable payment of dividends.