Sinn Féin - On Your Side

Huge profits highlight supermarkets not aiding consumers in recession

21 April, 2009 - by Jennifer McCann

Sinn Féin MLA Jennifer McCann has stated that supermarket giants must take a responsible attitude to pricing throughout this economic slump in order to aid customers through economically hard times.  This follows Tesco announcing another growth in the sales of food and £3.13 billion profits for this year.

Ms McCann said:

“Today Tesco announced a record 10% profit increase for this year making £3.13 billion. Tesco  sales have actually  topped £1 billion a week. Given that this is in a time of severe economic hardship the question arises, how much are supermarket giants actually doing to help consumers. ”

“Lower income shoppers such as pensioners and those dependant on benefits are being forced  to buy supermarket own brands or go without, while branded and local products that are evidently superior in quality and nutritional value are out of reach for many customers.”

“It is important that people maintain a healthy diet but with basic essentials such as fruit, vegetables, eggs, bread and milk have seen the largest price increases, putting pressure on the budget of low income shoppers.”

“The present economic difficulties need to be reflected in the prices of staple foods by large supermarkets, such as Tesco, who must take a responsible approach towards the hardships of many consumers instead of pressing for huge, unjustifiable profits.”

Connect with Sinn Féin