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Sainsburys / Tesco - Windfall tax?
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By *rFunBoy OP Man
over a year ago
Longridge |
So, while supermarkets are bleating on that their costs are increasing and 'have' no choice but pass increases on to customers, at the same time they are further squeezing farmers and suppliers claiming they are running tight on margins.
Sainsburys, today announce £730m profit over the meager £357m last year.
While we spend the extra few pennies to buy to put in a food bank for some not so better off, these pennies are lining the pockets of greedy, selfish bustards happy to take every last penny from us.
Last week Tesco announced £2,03 billion up from £636 million.
WINDFALL TAX them and give the money to support community food banks. Its a monopoly and time for a "Cost of Living regulator" as this is beyond belief..
Most of their staff are on Tax Credits, pull some of these profits to cover Government sponsored salaries while they stuff their pockets.. |
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By (user no longer on site)
over a year ago
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"So, while supermarkets are bleating on that their costs are increasing and 'have' no choice but pass increases on to customers, at the same time they are further squeezing farmers and suppliers claiming they are running tight on margins.
Sainsburys, today announce £730m profit over the meager £357m last year.
While we spend the extra few pennies to buy to put in a food bank for some not so better off, these pennies are lining the pockets of greedy, selfish bustards happy to take every last penny from us.
Last week Tesco announced £2,03 billion up from £636 million.
WINDFALL TAX them and give the money to support community food banks. Its a monopoly and time for a "Cost of Living regulator" as this is beyond belief..
Most of their staff are on Tax Credits, pull some of these profits to cover Government sponsored salaries while they stuff their pockets.."
You can’t do that , think about the poor share holders  |
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By (user no longer on site)
over a year ago
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Totally agree no company should receive or should I say no person working for a multi million company should receive anything from the government that company should pay proper wages or don't exist. |
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"Sainsburys, today announce £730m profit over the meager £357m last year."
The preliminary results published on their website today say that they expect to have made a profit (after tax) of £677m.
That's on revenue of £29,895m. That means that they made 2.265% profit. They still have £6,759m of debts to pay.
That's hardly "lining the pockets of greedy, selfish bustards happy to take every last penny from us". |
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By *eroy1000Man
over a year ago
milton keynes |
"So, while supermarkets are bleating on that their costs are increasing and 'have' no choice but pass increases on to customers, at the same time they are further squeezing farmers and suppliers claiming they are running tight on margins.
Sainsburys, today announce £730m profit over the meager £357m last year.
While we spend the extra few pennies to buy to put in a food bank for some not so better off, these pennies are lining the pockets of greedy, selfish bustards happy to take every last penny from us.
Last week Tesco announced £2,03 billion up from £636 million.
WINDFALL TAX them and give the money to support community food banks. Its a monopoly and time for a "Cost of Living regulator" as this is beyond belief..
Most of their staff are on Tax Credits, pull some of these profits to cover Government sponsored salaries while they stuff their pockets.."
The big 3 supermarkets are also saying that they will be cutting prices as they are finding they are loosing out more to shops like Aldi and lidle |
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"So, while supermarkets are bleating on that their costs are increasing and 'have' no choice but pass increases on to customers, at the same time they are further squeezing farmers and suppliers claiming they are running tight on margins.
Sainsburys, today announce £730m profit over the meager £357m last year.
While we spend the extra few pennies to buy to put in a food bank for some not so better off, these pennies are lining the pockets of greedy, selfish bustards happy to take every last penny from us.
Last week Tesco announced £2,03 billion up from £636 million.
WINDFALL TAX them and give the money to support community food banks. Its a monopoly and time for a "Cost of Living regulator" as this is beyond belief..
Most of their staff are on Tax Credits, pull some of these profits to cover Government sponsored salaries while they stuff their pockets.."
.As has already been pointed out competition in the food industry is intense and the operating margins of Tesco and Sainsburys are very low. Tesco pay a staff bonus and operate a share incentive scheme . They are an excellent employer. A windfall tax is simply a tax on employees and pensioner. Consumers should be greatfull at how efficient Tesco are. |
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By *irldnCouple
over a year ago
Brighton |
"Sainsburys, today announce £730m profit over the meager £357m last year.
The preliminary results published on their website today say that they expect to have made a profit (after tax) of £677m.
That's on revenue of £29,895m. That means that they made 2.265% profit. They still have £6,759m of debts to pay.
That's hardly "lining the pockets of greedy, selfish bustards happy to take every last penny from us"."
Are you sure? Didn't think that was how net profits and gross revenue work, ie if they are declaring net profits that is after tax and tax is only deducted from gross profits after debt payments and other tax deductible business expenses are accounted for. They can pay dividends on that net profit, reinvest some of that net profit, or decide to reduce debt more quickly. |
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I was simplifying. £677m is what they had left to 'line the pockets of greedy selfish shareholders'.
You can see the figures at https://www.about.sainsburys.co.uk/investors/results-reports-and-presentations/2021
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By (user no longer on site)
over a year ago
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"Sainsburys, today announce £730m profit over the meager £357m last year.
The preliminary results published on their website today say that they expect to have made a profit (after tax) of £677m.
That's on revenue of £29,895m. That means that they made 2.265% profit. They still have £6,759m of debts to pay.
That's hardly "lining the pockets of greedy, selfish bustards happy to take every last penny from us"."
Sshhh. Don’t spoil the narrative. All commerce that makes a profit is bad! All idol should be given money for nothing.
Also and Lidl are cheaper. Just shop there if you don’t like Sainsbury’s “shareholder greed”! |
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By *ercuryMan
over a year ago
Grantham |
"I was simplifying. £677m is what they had left to 'line the pockets of greedy selfish shareholders'.
You can see the figures at https://www.about.sainsburys.co.uk/investors/results-reports-and-presentations/2021
"
Does "greedy shareholders" encompass "pension funds" as well?  |
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"Sainsburys, today announce £730m profit over the meager £357m last year.
The preliminary results published on their website today say that they expect to have made a profit (after tax) of £677m.
That's on revenue of £29,895m. That means that they made 2.265% profit. They still have £6,759m of debts to pay.
That's hardly "lining the pockets of greedy, selfish bustards happy to take every last penny from us".
Sshhh. Don’t spoil the narrative. All commerce that makes a profit is bad! All idol should be given money for nothing.
Also and Lidl are cheaper. Just shop there if you don’t like Sainsbury’s “shareholder greed”! "
. With the correct use of a club card the difference in prices are probably very marginal. As I have to shop for a third party who is housebound ,if you join club card plus at a cost of £8 per month you get an extra 10 % discount on two big shops per month. I enjoy shopping so queuing at a Lidl or Aldi checkout in a cramped store has no appeal to me. Aldis and Lidl are also slightly behind the times - they have yet to introduce self scanning tills |
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By *asyukMan
over a year ago
West London |
"So, while supermarkets are bleating on that their costs are increasing and 'have' no choice but pass increases on to customers, at the same time they are further squeezing farmers and suppliers claiming they are running tight on margins.
Sainsburys, today announce £730m profit over the meager £357m last year.
While we spend the extra few pennies to buy to put in a food bank for some not so better off, these pennies are lining the pockets of greedy, selfish bustards happy to take every last penny from us.
Last week Tesco announced £2,03 billion up from £636 million.
WINDFALL TAX them and give the money to support community food banks. Its a monopoly and time for a "Cost of Living regulator" as this is beyond belief..
Most of their staff are on Tax Credits, pull some of these profits to cover Government sponsored salaries while they stuff their pockets.."
These profits do not come from a "windfall". This has come from brutal efficiency, low pay and hard (possibly unfair) purchasing practises. Nor are they a monopoly.
I agree that the profits do not sit well though.
The more appropriate solution is to set a genuine living wage that does not require any state subsidy. Then compel all larger companies to pay at this level.
Then we are how profitable these companies really are... |
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By (user no longer on site)
over a year ago
|
"Sainsburys, today announce £730m profit over the meager £357m last year.
The preliminary results published on their website today say that they expect to have made a profit (after tax) of £677m.
That's on revenue of £29,895m. That means that they made 2.265% profit. They still have £6,759m of debts to pay.
That's hardly "lining the pockets of greedy, selfish bustards happy to take every last penny from us".
Sshhh. Don’t spoil the narrative. All commerce that makes a profit is bad! All idol should be given money for nothing.
Also and Lidl are cheaper. Just shop there if you don’t like Sainsbury’s “shareholder greed”! . With the correct use of a club card the difference in prices are probably very marginal. As I have to shop for a third party who is housebound ,if you join club card plus at a cost of £8 per month you get an extra 10 % discount on two big shops per month. I enjoy shopping so queuing at a Lidl or Aldi checkout in a cramped store has no appeal to me. Aldis and Lidl are also slightly behind the times - they have yet to introduce self scanning tills "
Are self scanning tills not part of the new world order attempt to ensl@ve the masses, another step in undermining ghe wages of the working poor by replacing them with robots! So not a bad thing they are not at Aldi? |
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By (user no longer on site)
over a year ago
|
"So, while supermarkets are bleating on that their costs are increasing and 'have' no choice but pass increases on to customers, at the same time they are further squeezing farmers and suppliers claiming they are running tight on margins.
Sainsburys, today announce £730m profit over the meager £357m last year.
While we spend the extra few pennies to buy to put in a food bank for some not so better off, these pennies are lining the pockets of greedy, selfish bustards happy to take every last penny from us.
Last week Tesco announced £2,03 billion up from £636 million.
WINDFALL TAX them and give the money to support community food banks. Its a monopoly and time for a "Cost of Living regulator" as this is beyond belief..
Most of their staff are on Tax Credits, pull some of these profits to cover Government sponsored salaries while they stuff their pockets..
These profits do not come from a "windfall". This has come from brutal efficiency, low pay and hard (possibly unfair) purchasing practises. Nor are they a monopoly.
I agree that the profits do not sit well though.
The more appropriate solution is to set a genuine living wage that does not require any state subsidy. Then compel all larger companies to pay at this level.
Then we are how profitable these companies really are..."
Was it not Labour that introduced all this tax credit nonsense effectively giving a subsidy to all large employers?
I agree there should be a better level of pay that people can live on. Since the minimum wage tends to act more as a ceiling for low skilled pay rates, then should it be scrapped. Let the market decide and let inflation rip? (Hikes in wages will drive up costs which then drive up the prices and demand for more money) - tough one to manage - but also unfair people work for a wage they can’t live on for basics also. |
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By *asyukMan
over a year ago
West London |
"So, while supermarkets are bleating on that their costs are increasing and 'have' no choice but pass increases on to customers, at the same time they are further squeezing farmers and suppliers claiming they are running tight on margins.
Sainsburys, today announce £730m profit over the meager £357m last year.
While we spend the extra few pennies to buy to put in a food bank for some not so better off, these pennies are lining the pockets of greedy, selfish bustards happy to take every last penny from us.
Last week Tesco announced £2,03 billion up from £636 million.
WINDFALL TAX them and give the money to support community food banks. Its a monopoly and time for a "Cost of Living regulator" as this is beyond belief..
Most of their staff are on Tax Credits, pull some of these profits to cover Government sponsored salaries while they stuff their pockets..
These profits do not come from a "windfall". This has come from brutal efficiency, low pay and hard (possibly unfair) purchasing practises. Nor are they a monopoly.
I agree that the profits do not sit well though.
The more appropriate solution is to set a genuine living wage that does not require any state subsidy. Then compel all larger companies to pay at this level.
Then we are how profitable these companies really are...
Was it not Labour that introduced all this tax credit nonsense effectively giving a subsidy to all large employers?
I agree there should be a better level of pay that people can live on. Since the minimum wage tends to act more as a ceiling for low skilled pay rates, then should it be scrapped. Let the market decide and let inflation rip? (Hikes in wages will drive up costs which then drive up the prices and demand for more money) - tough one to manage - but also unfair people work for a wage they can’t live on for basics also. "
I don't give a crap who introduced it.
However, having people somehow not be poor is better than them being poor.
That system could also function if they collected the tax from those companies at the other end, but that is hugely inefficient and wasn't achieved anyway.
Minimum wage is not a cap when there is a shortage of labour, is it?
You know this.
As large company managers cannot be trusted to do the right thing, the state intervenes. Perhaps a fixed ratio between total Board remuneration and minimum pay in the company will be needed to force the matter... |
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By (user no longer on site)
over a year ago
|
"So, while supermarkets are bleating on that their costs are increasing and 'have' no choice but pass increases on to customers, at the same time they are further squeezing farmers and suppliers claiming they are running tight on margins.
Sainsburys, today announce £730m profit over the meager £357m last year.
While we spend the extra few pennies to buy to put in a food bank for some not so better off, these pennies are lining the pockets of greedy, selfish bustards happy to take every last penny from us.
Last week Tesco announced £2,03 billion up from £636 million.
WINDFALL TAX them and give the money to support community food banks. Its a monopoly and time for a "Cost of Living regulator" as this is beyond belief..
Most of their staff are on Tax Credits, pull some of these profits to cover Government sponsored salaries while they stuff their pockets..
These profits do not come from a "windfall". This has come from brutal efficiency, low pay and hard (possibly unfair) purchasing practises. Nor are they a monopoly.
I agree that the profits do not sit well though.
The more appropriate solution is to set a genuine living wage that does not require any state subsidy. Then compel all larger companies to pay at this level.
Then we are how profitable these companies really are...
Was it not Labour that introduced all this tax credit nonsense effectively giving a subsidy to all large employers?
I agree there should be a better level of pay that people can live on. Since the minimum wage tends to act more as a ceiling for low skilled pay rates, then should it be scrapped. Let the market decide and let inflation rip? (Hikes in wages will drive up costs which then drive up the prices and demand for more money) - tough one to manage - but also unfair people work for a wage they can’t live on for basics also.
I don't give a crap who introduced it.
However, having people somehow not be poor is better than them being poor.
That system could also function if they collected the tax from those companies at the other end, but that is hugely inefficient and wasn't achieved anyway.
Minimum wage is not a cap when there is a shortage of labour, is it?
You know this.
As large company managers cannot be trusted to do the right thing, the state intervenes. Perhaps a fixed ratio between total Board remuneration and minimum pay in the company will be needed to force the matter... "
Of course reducing poverty would be a good thing. I’m simply pointing out the current systems introduced by Labour (to give it context since we agree Tories don’t care about the poor) has not really worked. Was it ever really meant to be a minimum” or a lowest common denominator.
But the real way to fox poverty is through education. In a global economy up skilling is the best way. Giving more to the low paid - whilst it improves the number - eventually it pushes back up. So in relative terms they are still not that much better off.
If the dentist or lawyer end up paying £50 for a haircut instead of £25, then eventually they’ll start charging more themselves. If there is a shortage of dentists and lawyers then they’ll get away with it. Unfortunately for those of low skill there has never really been a shortage of them. Until very recently.
Maybe taxing capital at a much higher rate than reward from direct labour would be a way to even up the balance. After all the rich can leverage and borrow, whilst everyone has the same 24h in a day.
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By *rFunBoy OP Man
over a year ago
Longridge |
"So, while supermarkets are bleating on that their costs are increasing and 'have' no choice but pass increases on to customers, at the same time they are further squeezing farmers and suppliers claiming they are running tight on margins.
Sainsburys, today announce £730m profit over the meager £357m last year.
While we spend the extra few pennies to buy to put in a food bank for some not so better off, these pennies are lining the pockets of greedy, selfish bustards happy to take every last penny from us.
Last week Tesco announced £2,03 billion up from £636 million.
WINDFALL TAX them and give the money to support community food banks. Its a monopoly and time for a "Cost of Living regulator" as this is beyond belief..
Most of their staff are on Tax Credits, pull some of these profits to cover Government sponsored salaries while they stuff their pockets..
You can’t do that , think about the poor share holders "
Oh shit, sorry..
Let's just let them, like energy, telecoms and other essential sectors cash in on our misery.
What was the word I was looking for "capitalism" or was it "profiteering" or erm.. "privatisation"
So, Austria's response to saving fuel to hurt Putin and supporting the population, all public transport anywhere in the country €3 per day..
Whats happening here? Oh, thats right - prices gone up. |
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