Stop whacking us with taxes, food giant tells Reeves [Yahoo! Finance]
BIDVEST GRP LTD S/ADR (BDVSY)
NASDAQ:AMEX Investor Relations:
bidvest.co.za/investor-presentations.php
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Source: Yahoo! Finance
Rachel Reeves has been told to “stop whacking” food companies with taxes as the Chancellor faces growing demands not to target businesses at her upcoming Budget. Andrew Selley, the chief executive of Bidcorp, which is one of the UK's largest food distributors, said the Government's decision to hammer the industry with tax rises and new duties risked pushing up prices for consumers. The warning came as a survey from Britain's biggest business group showed financial services activity fell at its fastest pace since the pandemic, in a sign that uncertainty surrounding the Budget is reverberating across the economy. Speaking at a conference in London, Mr Selley urged the Government to be “more understanding of the pressures on business”. He said: “We've seen that food inflation is inherently sticky at the moment. It's incumbent on the Government to stop whacking taxes and additional costs onto the key players in the food industry. “At some point, we're going to be passing those
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