Social justice campaigner takes aim at ‘culture of entitlement, not enterprise’
Quids in! editor Jeff Mitchell has hit out at big businesses complaining at tax rises and threatening while protecting profits to shareholders.
Jeff Mitchell made the following statement: “Judging from the media coverage following the budget, it seems the spirit of enterprise in the UK has been replaced by the spirit of entitlement. Household names like Tesco and Wetherspoons are reporting record profits while threatening to take more off hard-pressed members of the public.
“They rake in millions from lower-income consumers and have all the financial levers at their disposal to make savings and act responsibly around profit dividends. While costs will of course increase, shareholders are more able to weather financial shocks than low-income households.”
In October, Chancellor Rachel Reeves announced higher wages for the lowest-paid workers and increased contributions required from employers in National Insurance. It is estimated tax changes will cost supermarket giant Tesco £1 billion but shareholders are set to pocket a share of a staggering £2.9 billion this year. The retailer has threatened to hike prices in response to the government’s Autumn budget.
In a further attack on poorer people, the British Retail Consortium said it will be the lowest-paid jobs that go first. In a letter representing high street staples including Boots, Currys, M&S, Asda and Primark, they said: “The effect will be to increase inflation, slow pay growth, cause shop closures, and reduce jobs, especially at the entry level.”
Wetherspoons boss Tim Martin says restaurants and pubs like his will pass on extra costs. The low-cost pub chain recorded profits of £36 million for the first six months of this year – an eight-fold increase on 2023.
Jeff Mitchell added: “Businesses are key to keeping the country fed and workers employed but sympathy is in short supply from struggling consumers. Customers will be asking why profits for shareholders are more important than protecting them from rocketing prices and job losses.”
Image: I Wei Huang / Shutterstock
