Conservative government would reduce the power of supermarkets
The Conservative Party has confirmed it would bring in a so-called "supermarkets tsar" to oversee the supermarket sector if it is successful at the next general election. The idea would be to force supermarkets to pay a fair price for produce from suppliers and indeed keep a very close eye on their power and influence not only in the retail market but also on local economies.
For many years there has been growing concern about the power and strength of UK supermarkets with the likes of Tesco, Asda, Morrison and Sainsbury able to influence many areas of the UK retail market. Indeed we have seen a number of smaller operations fall by the wayside purely and simply as a consequence of the massive competition in the sector which has squeezed profit margins for many companies. This has left the larger companies such as Tesco, Asda, Morrison and Sainsbury to lead the way.
Whether the introduction of a supermarkets tsar would have any real impact is debatable as the UK government has on a number of occasions attempted to rein in the power of the supermarkets to no avail. This is just the latest in a number of expected "voter friendly" announcements as we approach the next general election. There is a need to be "seen to be doing the right thing" although whether many of these initiatives will actually make it onto the statute books remains to be seen.
Share this..
Related stories
Saving money with your mobile phone
With the vast majority of the UK public owning at least one mobile phone the industry is seeing significant interest in multiple customers from one household. However, despite the fact that the vast majority of UK phone operators will offer either free calls between customers from the same network, or significantly reduced calls, many people are still not taking up these potentially lucrative offe...
Read MoreBankruptcies and IVAs set to increase dramatically
The number of bankruptcies and individual voluntary arrangements (IVAs) is set to increase massively over the next 24 months as the UK economy continues to move further downward. While the government is doing as much as possible to reduce the chances of bankruptcy and serious financial difficulty for many businesses and individuals across the country, there is only so much they can do. Pressure on...
Read MoreHas the UK economy been fatally damaged?
As we head towards 2010 with renewed optimism in some parts with regards to the UK economy, there are concerns that the UK has been fatally damaged during the credit crunch. It is no secret that a number of potential issues have been brought to the attention of investors including the massive debt problem in UK, a public sector which is now out of control and a government which is stuck between ru...
Read MoreHousehold debt set to increase, according to OBR
18/03/2016 The Office for Budget Responsibility (OBR) has said that it expects household debt to carry on growing in size until at least the end of the decade. Official forecasts indicate that weak pay growth coupled with low interest rates is likely to provide households with a means to continue to live beyond their financial comfort zone, and the fiscal watchdog said such a long period of...
Read MorePension information sold to fraudsters
30/03/2015 Financial firms are selling data about people’s pension information to fraudsters and cold calling firms, according to report by the Daily Mail. Data which carries information in regards to peoples salaries, investment values and pension size is reportedly being sold for as little as 5p without peoples prior knowledge. Concerns have been expressed that this information could be...
Read More