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The Independent UK
The Independent UK
National
Anna Wise

Supermarket boss declares ‘enough is enough’ ahead of Autumn budget

  • Tesco's chief executive, Ken Murphy, has urged the government to avoid imposing further financial burdens on the grocery sector in the upcoming autumn Budget.
  • The supermarket highlighted that household budgets are under pressure, leading consumers to increasingly seek out value in their shopping.
  • Tesco noted significant existing costs, including £235 million from employer National Insurance and £90 million from new packaging taxes; Mr Murphy added: “We’re doing our best to deal with them, but enough is enough.”
  • Despite these pressures, Tesco has raised its annual profit forecast, now expecting underlying earnings between £2.9 billion and £3.1 billion.
  • The retailer reported a 1.6 per cent rise in adjusted operating profit to £1.67 billion for the first half of 2025, driven by a 4.9 per cent increase in UK sales.

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