Iceland boss urges businesses to stop complaining about budget challenges
Iceland Foods executive chairman Richard Walker has urged businesses to stop wallowing and instead focus on constructive solutions following the recent Budget announcements.
Walker criticised his fellow retailers for premature warnings about potential job cuts and price increases.
He told The Telegraph: “I’ve noticed a flurry of announcements on job cuts, but actually nothing has happened and won’t for a while yet.”
Walker highlighted the frozen food retailer’s proactive approach by launching an interest-free loan scheme through its Food Club. The programme allows customers to borrow up to £100 for food, which can be repaid at £10 per week.
Subscribe to Grocery Gazette for free
Sign up here to get the latest grocery and food news each morning
“It’s a triple win,” he said, adding that “it’s good for business, helps customers, and addresses issues local governments are trying to solve”.
The Iceland boss, who switched political allegiance from Conservative to Labour last year, explained that “what matters much more is how the government invests for the future,” pointing to potential areas of development such as skills training and industrial strategy.
Walker’s comments are a rare show of support from businesses for Chancellor Rachel Reeves during a period of significant criticism.
Last month, UK retailers warned Reeves that her decision to increase employers’ National Insurance contributions in the Budget will lead to “inevitable” job cuts and price rises.
In a letter to the Chancellor, more than 70 companies including Tesco, Sainsbury’s, Asda and Morrisons said that the National Insurance hike, combined with a rise in the national minimum wage, and new packaging levies could see the retail industry’s costs surge by up to £7bn a year.
2 Comments. Leave new
A bit rich from the bloke who took the rates relief in the pandemic when other supermarkets did so…
How much did the Labour party pay him for these commits .