Windfall tax on supermarkets
Windfall tax on supermarkets
Supermarkets have profited enormously from the Covid19 pandemic. They were often the only retail outlets allowed to open while others were forced to close. Now they want to increase prices to make even greater profits. The supermarkets are already increasing prices every week and blame those increased prices on anything and everything except their own greed.
One supermarket chain has already admitted that its profits were over two and half billion pounds last year, yet it is planning, and warning us, that it is going to put its prices up 5%. It is blaming the increase on fuel prices. It needs to recognise that it profits from the community and is part of the community. It should resolve to return 5% of its profits to that same community or pay a windfall tax.
Supermarkets should be subject to a 20% one off tax on any profits over and above the previous year. The money should be used to help all pensioners, like myself, and all those on lower incomes to pay for the increased cost of home heating.