Sainsbury and Asda Merger
Debate between Tom Pursglove and Andrew Griffiths(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.
Oral Answers to Questions
Debate between Tom Pursglove and Andrew Griffiths(6 years, 9 months ago)
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Tom Pursglove (Corby) (Con)
Along with the steps the Minister has outlined, does he agree that increasing the tax-free threshold and taking the lowest paid out of tax altogether has made an enormous difference to many workers in this country?
Andrew Griffiths
I absolutely agree with my hon. Friend: 4 million people have been taken out of paying tax as a result of decisions taken by this Government. The employment rate is 75.3%, which is the joint highest rate since comparable records began in 1971. We have record numbers of people in work, and unemployment is at its lowest for 40 years. This Government are on the side of the worker and the lowest paid.