Sainsbury and Asda Merger Debate
Full Debate: Read Full DebateDepartment: Department for Business, Energy and Industrial Strategy
Justin Madders
Main Page: Justin Madders (Labour - Ellesmere Port and Bromborough)Department Debates - View all Justin Madders's debates with the Department for Business, Energy and Industrial Strategy
(6 years, 6 months ago)
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Andrew Griffiths
We have engaged with Sainsbury’s and Asda to urge them to speak to their staff, and we have also engaged very openly and honestly with the trade unions. We want to see proper and early engagement and consultation in this process to ensure that the workforce is protected, but the public assurances that both Sainsbury’s and Asda are giving at present are that all the stores, and all the jobs in the stores, will be protected.
Justin Madders (Ellesmere Port and Neston) (Lab)
We know in takeovers and mergers of this nature that, as sure as night follows day, it is the workers who end up paying for the efficiency savings that have been set out. I have to say that, given the number of assurances the Minister has talked about today, I think attacks on terms and conditions are almost inevitable. When that happens in two years’ time, what will the Minister do?
Andrew Griffiths
The rules under which we operate in relation to mergers and takeovers were established in the Enterprise Act 2002 under a Labour Government. They have worked well and allowed businesses to grow, develop and merge to the benefit of both shareholders and the employers. The Department is, of course, closely following what is going on, but decisions in relation to this merger are for the CMA.