FinancialAdvice.co.uk Logo

Qualified advisers answering your
Financial Questions
call 0800 092 1245

UK supermarkets refuse calls for ombudsman

The UK supermarket sector could be in for a serious shakeup in the short to medium term after news that the big four, Tesco, Asda, Sainsbury's and Morrisons, all rejected calls from the competition commission to set up an ombudsman to monitor the relationship between retailers and retail supplies. The call for the creation of an ombudsman came after a two-year investigation into the industry which is alleged to have found evidence of costs being transferred to suppliers and issues about the treatment of those in the supply chain.



While the competition commission does not have the legal right to create an ombudsman, the UK government is set to step in with the threat of fines and further investigations into the industry. This has been a long-running saga in the UK, as UK supermarkets become stronger and stronger and expanded their tentacles into each and every area of the UK retail market. However it is the treatment of UK suppliers which has attracted most controversy with accusations that profitability is being cut to the bone and the desperation of those in the supermarket supply chain is being exploited.



Will the UK government dare call the bluff of the supermarkets or will they find some middle ground and agree new arrangements for the future?

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:



Latest News

Blogs

Helpful new tax year facts that could affect you and your money


Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.


Read more

Useful Links

Popular Searches

Please Enter More Details

 
Enter More Details
Continue