Labour MP grills supermarket bosses price gouging Brits in Select Committee 

FORSTLY THE LOVE OF MONEY IS THE ROOT OF " EVIL" SO THEASE BIG BUSINESSES MOST SUPERMARKETS CAPTALIZES ON ODINARY CITIZENS AND THEASE BOLD FACE TESCO BOSSES HAVE NO EMPATHY SO I DONT EXPECT THEY WILL BRING DOWN PRICES THEY WILL CONTINUE TO " LIE" SO I DONT EXPECT ANYTHING TO CHANGE FROM THEASE UNSHAMEFUL BOSSSES . REMEBER IF YOU HAVE ANY DECENCY INTEGRITY EMPATHY . AND YOU SAY YOU A PROUD OF BRINGING PRICES KNOWING FULL WELL THE EFFECT ON ALREADY CASH STRUCK CUSTOMERS ARE SUFFERING SO MAKING AN PROFIT OF OVER 2BILLION AND YOU A PROUD HOW INTERESTING.

politics joe pushing labour propaganda

Did he take into account inflation and 2019 prices vs 2023 prices? {:o:O:}

It's not a lie, there are different types of accounts, his are adjusted accounts. Some accounts have predictions and are then updated or adjusted for different changes

Proud to have given a 15% pay rise, yes good news if true, but still up on profit since Covid began. Add to this it's just YE profit not the cummulative amount that major shareholders soak up and shift abroad. Ridiculous.

not realy defending him but from what i can tell PART of the problem is that the MP seems to read of unajusted numbers. do 3 years of mega inflation make up the entire difference? i dont know. will it make the gap MUCH smaller? yeaaahhh...

It’s not a lie - he is talking about the ‘net margin’ which accounts for inflation in adjusted figures. It is a direct response to the underlying assumption (incorrect) in the question asked. Unfortunately, the chair is evidently unquestionably not qualified to read adjusted financial statements and has no idea what he is reading. That’s clear as day!

@@christopheradderley6902 If profit, as a number, a measurement, was 1.6, and then 2.3, how have profits not gone up? adjusted or not? One is a bigger number, therefore profits are up - is that not factually accurate?

Please don't be fooled into thinking it's incompetence because it's intentional. No matter how much people are struggling the rich gain from every crisis. This happens every time and cannot merely be an accident every time. It's a system designed for the desired outcome and things like this are to give the illusion of democracy.

I think we’d have to see how Darren Jones performs in a front bench role to assess his competency vs others in similar roles in parliament…my guess is he’d be better but that’s not saying much. As a chair of a select committee you work under very different circumstances and pressures; he doesn’t have anywhere near the same spotlight on his personal life (not saying there’s anything he has to hide, but that spotlight itself must take a huge toll). He’s the one asking questions and holding people to account, which is an extremely important role. But the real test is what you then do when you are on the other side of the fence…

Me too

Agreed. He is heroic, although it's a shame that these committees don't seem to have the power to do much other than expose the lies...

If only he would become PM

Its all staged don't fall for this crap.

@@mikel8850 That's an interesting take. I was certainly assuming that this sort of thing, although somewhat ineffectual, was about as good as we could hope for within the current parliament. Who would you say is doing more, and how are they doing it? I'd certainly like to learn more about (and support) other efforts to increase corporate accountability...

I really feel for you mate, I was in the same boat for 5 years, not long left. Everything you say is spot on, these stores are top heavy and actually seem to mimic the unfairness and ineptitude of government in that the people at the top do fuck all and take all the money, while the people at the bottom do almost everything for nothing. Its nauseating and I can see the anger on the staffs faces in almost every supermarket I enter. I simply couldn't take any more of it, was at the verge of assaulting someone/being assaulted on a few occasions. Was own management that tipped me though.

I had to quit, it got to the point where I was the only person on produce on a Sunday, we used to have 4 people. Ended up doing my back in because I was rushing, lifting heavy trays between multiple reduction sessions. Department looked like complete shit. Managers only help when it gets embarrassingly bad. Everyone in supermarket retail is so much worse off mentally, physically, monetarily than they were 10 years ago. Every canteen in the country is now empty. This has all happened under 13 years of penny pinching Tory rule.

@@dank420bluntz feel exactly the same. I used to be on produce too and it got gradually worse to the point you mentioned. I was constantly expected to do produce as well as code check and they question why the department looked a mess... Honestly. Management have it so much better off nowadays where they don't really need to do any hard work. I've yet to see a manager put on a sweat in the past few years. It's disgusting.

Was in retail from 17-21 years old. I know how awful it can be, I truly wish you all the best and hope you find a place that respects and treats you well. ❤

The last factory i worked in was the same, cut our shifts so they didn't have to pay us shift allowance forcing the entire shift to work hours they didn't agree with, then decided to literally cut our staff by half and dristribute them elsewhere and make the rest of us work twice as hard during hours we didn't sign up for or agree too, and on top of that they sped up the lines and put more work load on and do you think we got any more pay for that "privilege" of course fucking not. And when we told the management this when they complained about deadlines and targets they just looked at us stupid.. like they couldn't understand the audacity of a completely overworked, underpayed, entirely shafted work force for being demotiviated to even bother and we just let the targets not get met and did only the bare minimum in protest. We all worked our asses off and did overtime etc before all of that, after it we all decided fuck it if they sack me they sack me i've had enough.

Did you know that as bad as nixon was to help stop inflation in 1970 ish, he broadcast that any ceo that was found to be price gouging would go to prison.... guess what happened

Profiteering should be illegal

Profiteering is how the hardship started... And the hardship will increase profits... That's the way capitalism works.

@@livvi67 So if you make profit on your wage by making savings, I'm sure you will be the first to give it all away

@@Ludd439 capitalism has done more to reduce suffering than anything else in the world.

Exactly the same argument the Post Office used. Fleece the retail customer to top up shortfall elsewhere.

Absolutely right.

Yes. It's quite common with any large group with multiple chains across the world. UK's Currys PC world do it. Coca Cola, Pepsi, Johnson & Johnsons also are some of the biggest names that will charge more in some areas to make up deficits in other areas.

Tesco losing revenue in other countries? Ahh...so that's why they announced a 10% cut in the price of 700 items in their Irish outlets a week or so ago. Makes total sense now...NOT.

​@@redsocialist5474Feck the people who work for them right?

And go where?

Tory brexit Britain 👿👿👿

Because boomers continue to vote the Tories in, as it serves their interests.

Just look at what’s running the country…speaks volumes.

Well no one comes here for the weather

I've never seen anything happen as a result of these committees they are a farcical kangaroo court

@@tfinde you've totally missed the point of what these committees are for then. It is to force the truth from companies that often spread lies, misinformation and spin of their accounts, management and practice. If they are found to have lied or misled during these sittings then action can be taken against them. The only part of the process that doesn't work is the lack of main stream medias reporting on whats discovered during them as their paymasters don't want this to be common knowledge and sway public opinion.

Well have u ever watched PMQs that's a fucking circus act. At least here a proper conversation can happen rather than the pantomime circus act that goes on in the house of commons

So for all his great work have we seen any convictions 🤔

Future PM, get on it

Look, it's simple demand and supply. If the supply is more than the demand, price will definitely drop. Grow your own food, if they lose money because of lost sales. They will drop prices to entice customers.

@@DriziationzI don’t have land to grow food, what do I do

​@@TheRapierTheBetterYeah truly privileged take, but I guess if you can do it that's one of getting them. The other way is regulating profiteering capitalists instead of acting like the invisible hand of the free market is always the solution. Pray at the alter of supply and demand and graph will eventually go down 🛐📉

@@Jmcinally94 I like this suggestion

A number of cheaper own brand items in Tesco were price matched to Aldi, they went up.

Are you old enough to remember the same thing with the energy companies??? All hoo haa & nonsense, most of them sent their secretaries & at the end of it all, the "government" suggested we all just switch suppliers!!!! Anyone tried to switch to a cheaper supplier recently? They don't exist & you really have to wonder if they DO plan all this decades in advance or if there are constant coincidences of biblical proportions!!!!

And why does nothing change? Because at EVERY fucking election we re-elect the same useless, corrupt liars who allow this.

Agree. None of these meetings do anything. Pointless and depressing.

"Lessons will be learned"

True, it's just to make it appear as though the Tories care and are doing something when in fact they are shareholders in cahoots with this profiteering cartel.

Chris Bryant is a very shifty man

100% , both great mp’s

Think he was a solicitor previously

Ah that means he won’t get anywhere close to a look in then.

So he’s lucky to still be a member of labour

Starmer has less charisma nad charm than a cardboard cutout of him. Raynor is not sharp enough. Yvette Cooper please

But his facts are wrong. He doesn't understand adjusted accounts, or rather he chooses (for political reasons) to not understand adjusted accounts.

The problem is what a "proper government" looks like. It certainly isn't any of the crap we have to pick from at the moment.

There are more Aldi price match labels in Tescos than Tescos labels. I call Tescos the Aldi price match store.

Everyone could, in theory, have access to land, plant starts and localized education programs and resources to grow, harvest put up preserved food. People can be provided this access by laws passed by the government if the will to circumvent grocery stores is there. People don’t need grocery stores. They need local markets and the knowledge to stop using them.

Try working more.

Lol, joke is if it looks like they won't get their own way they threaten us with 'leaving the country'!! Priceless!! Choiceful(!?!)

What kind of salary would you have been happy with?

blairite eco loony remainer? no thanks

@@GOLDSMITHEXILE To give this country a chance to recover after 14 years of Tory government mis- management will a character like Darren to gets us back to normality?

its called free market, get over it

@@phlegmonyDoes that mean it can’t be criticised or reformed? Is it right that Tesco can make 2.25 Billion in profits, but still be increasing their prices. Why not just make 1Billion and not put prices up so much?

Why should they? They exist to make money for shareholders.

@@phlegmony These left-wingers are psycho control freaks. Business looks at them and leaves the country.

@@phlegmony That really is taking basic thinking to a new low.

​@Driziationz lots of other businesses have been bailed out, so they might.

Actually they would be bailed out due to employment impact. No one is questioning them making a profit, the issue is excessive profiteering due to the circumstances of the pandemic, I guess more of a morality question to these businesses. I personally do not see an issue with companies taking advantage of the situation if this is clear I know to avoid said businesses- as I’m sure most of their customers would. This would however be hard with a poorly regulated market such as the Uk - this obviously simply has a knock on effect for the equality gap.

at the expense of people starving, i have nothing against profit but i do have a problem with greed impacting on vunerable peoples lives

​@@stephjsinclair*unpaid bonuses for the exectutives

@@Driziationz They are a *multinational* business *conglomerate*. That is the issue. It’s the job of government to prevent multinationals from levying their citizens due to failing in other countries. That’s how countries like Russia can destabilise other economies. So, in being weak on Tesco’s evident wish to tax the British public for their failings in Europe - I believe the Czech Republic, specifically - the government are just showing that they’re open to having their economy buggered this way.

Absolutely right, but where are normal, busy, working families meant to shop instead?

All that does is lay of workers who then can't afford to feed their families. The boses won't be punshied

@@hannahdyson7129 Exactly - rather like replacing staff with self-serve tills!

​@@OldGreyMulletTestThere are no self filling shelves though And he and his party have done nothing to stop staff being sacked for self service tills No reason for them to vote Labour at the next election.

@@hannahdyson7129 "There are no self filling shelves" - yet. Have you seen the robots that stack and pick in warehouses..?

And the only one that doesn't just flat out pay the least they can for employees! Goddamn gem that one it would seem

Pretty sure this is now an official Morrisons advert!😂

He did say his staff was on 10.92 a hour though but they are on minimum wage?

​@rebeccalewis7755 £10.92 is living wage not minimum wage.( which is what he said he paid) plus a 15% discount .

@@paul8161 isn't it £10.42 not £10.92? According to gov.uk anyway

it's not theft, grow your own food if you have a problem with it

This MP isn't in government, he can't do jack shit to these people except make recommendations to the government, which he's said in the past they completely ignore every time.

Darren Jones will be back. He and colleagues have just humiliated the board of the Post Office, and if there is a second iteration with Tesco at al, I'd guarantee he'll land some knockout and humiliating blows, especially if they continue to obfuscate.

You need to arrest Matt Wankcock for robbing the public coffers million's on dodgy PPE .

They didn't steal anything. Greedflation happens in a sick capitalist system. Their loyalty and responsibility is to their shareholders. The problem is there's not enough competition

Well thanks to the war, prices will go up.

Asda have been taken over by a private equity company amongst others so their debt levels will rise and rise to pay for the purchase costs. Remember Debenhams and Thames Water.

Today in April 2024 Tesco announce Record Profits 🙄

Not as much in dividends!

This is only a 40 year old concept, maybe even younger than you are. It is not at all necessary for companies to elevate shareholders over all other stakeholders, and was not common practice when we had sustainable economies.

Exactly!

Shateholders own the company. It's their money which owns the company. So if all shareholders withdrew their cash tomorrow, the companies would be insolvent and unable to trade - how would you resolve that ?

​@@bowdencable7094bullshit. It has *always* been the first responsibility of a board to look after the shareholders interests, because the shareholders *own the company* - other stakeholders don't..

Market forces push prices down, don’t like the price set go to another supermarket. Problems arise when supermarkets collude to stifle competition and keep prices artificially high. It’s happened before and might be happening now but as yet there’s no evidence to support that assumption.

@@enigmatwist6548 Ah, the good ol' 'arbitrary circumstances will make everything right'. It's the economics equivalent of 'stop screaming, it'll all be over soon'.

devaluation of the pound was caused by printing money during the pandemic, prices going up was caused by half a dozen factors.

Costs are set by suppliers and consumers. How much if a thing do we have and how much are people prepared to pay for it. As consumption has gone up and supplies are down.. prices go up.. It’s not that complicated.

@richardcollins, you are correct inflation is being driven by the cost of food and energy. The government know it but instead the Voe raises interest rates because the government are doing nothing. Downward spiral indeed

The Clubcard benefits have recently been reduced too!

Asda rewards doesn't give you cheaper prices it just gives you money back when you've shopped

Yes I went into the coop a few weeks ago and put the shopping back as they wanted to rip me off

@@neiltitmus9744 it’s about £7 for Heinz ketchup in there isn’t it?

As a supermarket worker I find it disgusinthr average British oonsmer is ok with physically assaulting us We arent responsible for the price hikes people

Exactly, effectively a monopoly

it's called competing by lowering prices. Cartels agree on a fixed price

Interesting comment.

@@DriziationzI think the for profit motive in our society needs to be grown past and phased out, it’s causing definitely inequality it this point, and the “capitalist” ideal has turned into a neo-feudalist nightmare

​​@@TheRapierTheBetterf you were a business owner or sole trader would you offer your services at cost price? I highly doubt it, what will induce people into offering their time and in turn adding to the competitiveness of sectors.

Nice advertising for Aldi

Doesn’t work like that I’m afraid.. local producers are nice for smaller local communities. But when you have to feed hundreds of millions of people you need large scale productions with capital..

All it will do is cause them to lay of staff Who then can't afford to eat

Civilisation is like a balloon, put too much pressure on it and it will go pop. The main problem with capitalism is the sheer relentless greed of those who are filthy rich already. More, more and more will never ever be enough.

@@elcristoph7380 Sadly I know you're right.

@@RenghisKhan if you have money, you can invest.. that doesn’t make you greedy.

This government has normalised greed

None of them are being held accountable...they're still getting away with it!!

and they keep buying and complaining whilst doing nothing 😂😂 brits pathetic

Imagine if there wasn't an Aldi. Shows the value of competition. No doubt on the cheap own name brands they are making big profits too as I'm sure the costs to themselves is much lower. Don't be fooled people. These greedy middlemen should be phased out. I'd like to see farmers etc selling direct and getting fair prices. As a result customers paying less too.

Only enforcing laws against profiteering and similar will help. The public are being fleeced. Unfortunately those who can do it appear to be benefitting from the current system

Doing enough what? Ask a proper question if you want a proper answer.

@@Andrew-rc3vh doing enough in keeping prices down - I will give you a clue Tescos are not doing enough

@@skyblazeeterno Here's another clue: input prices have risen Sugar 49.8% Olive Oil 46.8% yeast, baking powder, stock 42.3% Sauces 35.1% cheese 33.4% ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-lynDYW60P7Y.html Tesco's profit ~4%

@@Andrew-rc3vh what are you talki9ng about ask a proper question? I didn't ask one.

​​​@@skyblazeeterno Why is a company obligated to make less profit in order to help people? In fact what they're legally obligated to do is to be competitive, and try to make money for their shareholders. If the government expects them to provide some kind of public service by selling food more cheaply than they can get away with, they need to impose rules/regulations which force them to do so. Until they do so, the companies really have nothing to answer for. Asking a for-profit company why it's not essentially acting like a charity and voluntarily giving up profit is kind of a pointless line of questioning

Because they didn’t need them..

so? if you don't like it then just don't shop there. no big deal its a free market

@@phlegmony I don't shop there. But your empathy for all those peoples lost jobs and income is phenomenal. Well done you.

Can't cry about everything.

@@AdamReade shops hired heavily during covid to need the wfh demand..now that demand has gone they no longer need all those people.. Pointing out the reality of the situation doesn’t mean you lack empathy.. it means you’re not an idiot. But by all means.. keep crying it it makes you feel better.

Pure greed

they are using weasel words - the Tesco guy basically never directly answered the questions

They only care about shareholders

try both

erm no we wouldn't. Labour voters might. You can only speak for yourself not everyone else lol

Don't want any single one of the muppets in charge that goes for every last one might as well give it to a bum of the street.. Parliament is literally a skid mark on society

A vote for Starmer whether you like him or not is still a vote to get this MP who you do like into power.

and supermarkets in general are one of the worst employers

Yes..because they are owned by the Super Rich who ALSO pay tiny amounts of tax !!😢😢😢😢😢

And IF IT WASNT FOR THEM U WOULD HAVE STARVED !! Grow up

Didn't see any supermarket employees getting paid to stay at home during the pandemic they was all to busy picking or filling up shelves caused by the panic buyers it would of been nice to have a year off and be paid to stay at home instead of having to go to work keeping the food flowing

They don't have to worry about real consequences.

That would make too much sense!

But then They won't make maximum profit not the way the world works these leeches would chop the last tree to add an extra dollar to their profits

By this you mean a useless mouthpiece who represents no change whatsoever? The Tories are absolute scum but Nu Labour are no better. They have kinder words but their non-actions are a joke.

All that will do is cause them to sack more staff . The owners will not suffer. It just puts another family on the breadline . We need serious law refrom . That's the only way to make a change

I just love the fact that they Stephen Fry enough to do their latest adverts. A man who in the past, to be fair. Said I love Sainsbury's. They keep the scum out of Waitrose! 😎😲

Aldi don't rip their customers off and the rest want praise for being forced to do the same.

But capitalism now can just import in an OVER SUPPLY of labour from around the World. Which is a race to the bottom. Oligarchs love immigration. Most of the Left has embraced open borders Globalisation and have no solutions.

Should be at least £16 per hour. For f'k sakes, we are supposed to be rich, somewhere....

@huwzebediahthomas9193 We have more millionaires and billionaires than ever. The gap between the rich and poor is wider than ever. Disaster capitalists are making a killing, you could argue, literally. Vast wealth is within and flowing through this country. Proof, if any more was needed, that trickle-down economics was always just a self-serving lie.

At least he came off as the best of a bad lot.

No one is going to pay supermarket staff a high wage . Consumers would start to complain as food prices rise