Proposed Merger of Sainsbury’s and Asda Debate
Full Debate: Read Full DebateDepartment: Department for Business, Energy and Industrial Strategy
Lord Palmer
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Proposed Merger of Sainsbury’s and Asda
Lord Palmer Excerpts(6 years, 7 months ago)
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Lord Henley
No, my Lords, on this occasion the CMA will be doing this job. I think we can all say—even the noble Lord might agree—that, thankfully, the Commission will not be involved in any way at all.
Lord Palmer (CB)
My Lords, I have been involved in the food industry all my working life. Is this not in a way the thin end of the wedge? We already have completely deserted high streets. Are we shortly going to have completely deserted out-of-town shopping centres?
Lord Henley
My Lords, I am aware of the noble Lord’s involvement in the food industry. We have been eating biscuits bearing his name for some time, except I am not sure if we do eat those biscuits any more. The noble Lord will be aware that the retail world is changing, because that is what consumers require. It is not in our power to stop those changes; we must live with them. The retail sector itself must look at how the high street is changing and adapt accordingly.