GMB union calls retailer jobs threat on tax measures 'pathetic'
By Frank Prenesti
Date: Tuesday 19 Nov 2024
(Sharecast News) - The GMB Union on Tuesday called large UK retailers "utterly pathetic" over their threat to cut jobs in response to tax measures in the new Labour government's first Budget.
More than 80 retail leaders signed an open letter to Finance Minister Rachel Reeves warning that the proposed measures would burden the industry with an estimated £7bn in additional costs by the end of 2025, "threatening jobs, investment, and affordability for consumers".
Reeves imposed a rise in national insurance contributions for employers and increased the minimum wage.
GMB national officer Nadine Houghton hit back saying: "Multi billion pound businesses pleading poverty because they're being made to pay more to support public services is utterly pathetic.
"Most of these companies' fortunes are already subsidised by the tax payer - they pay very low wages which then have to be topped up by in work benefits.
"And some - for example Asda - have been systematically trousering fortunes made by underpaying women workers. It's only right that they should now contribute a bit more to rebuilding our country."
Reporting by Frank Prenesti for Sharecast.com
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