Sainsbury and Asda Merger Debate
Full Debate: Read Full DebateDepartment: Department for Business, Energy and Industrial Strategy
Tom Pursglove
Main Page: Tom Pursglove (Conservative - Corby)Department Debates - View all Tom Pursglove's debates with the Department for Business, Energy and Industrial Strategy
(6 years, 6 months ago)
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Andrew Griffiths
I can honestly say that Tesco’s loss is the House’s gain.
I recognise that this is an uncertain time for workers—that is why we have engaged with the unions to try to give them as much reassurance as we can—but this is clearly a complicated and complex process. These are huge businesses, and we need to understand properly the impacts that the merger will have—not just on jobs in those businesses, but on the supply chain and competition throughout the country. While I am keen for us to secure a resolution as quickly as possible, I think that, unfortunately, we must let the process run its course.
Tom Pursglove (Corby) (Con)
A new Asda store recently opened in Raunds; that has been particularly welcome for my constituents because of the positive impact it has had on petrol prices. What timescales does the Minister envisage for this process and is he aware of any impact on portfolio investments?
Andrew Griffiths
Those are important questions. If there is a phase 1 investigation, that will take 40 days. As I have said, both parties are urging the CMA to consider a fast-track approach. If it does that, phase 2 could be completed in six months. I can reassure my hon. Friend that the CMA will take very seriously the other issues he raises.