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via uk.finance.yahoo.comPolitics

'Unfair' warehouse tax will hurt retailers, Tesco says

FROM THE WIRE · UK.FINANCE.YAHOO.COM

Ken Murphy, the chief executive of Tesco, believes that business rates need to be reformed - Ben Stevens/Reuters The boss of Tesco has urged John Healey to exclude retailers from "fundamentally unfair" plans to mount a tax raid on large warehouses in the Budget. Ken Murphy, the…

Read at the source ↗
MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: expected bearishTesco CEO urges exclusion of retailers from warehouse tax plans in Budget, citing unfair business rates regime.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
  1. 01Tesco CEO Ken Murphy urged John Healey to exclude retailers from warehouse tax plans.
  2. 02Murphy stated retailers pay four times more than their fair share of business rates.
  3. 03He called for exemption for all retail businesses from the new rateable value threshold.
NEWS IMPACT AND MARKET REACTIONChange from the reference price
Tesco PLCTSCO.LSEStock502.80 GBp+0.08%today +5.67%Negative
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets

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