FabSwingers.com forum: Tesco's to hand back all the furlough scheme money.

By (user no longer on site) OP
over a year ago

Think is is amazing and says a lot about the company.

Certainly good to see in the light of so many companies that have taken the furlough money whilst still encouraging staff to work.

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By *usybee73Man
over a year ago

in the sticks

Wonder how many other supermarkets will follow suit?

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By *ovelybumCouple
over a year ago

Tunbridge Wells

Not furlough money but money saved from business rates.

The example other big business which haven't been affected from the pandemic should follow. There are also calls for the money to be handed to the pub sector, which is struggling hardest from the restrictions.

Tumbs up Tesco!!!

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By *ax777Man
over a year ago

Not here

It’s not furlough money, it’s business rate relief that it received as support through the pandemic.

I don’t think Tesco furloughed any of their staff

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By (user no longer on site) OP
over a year ago

"It’s not furlough money, it’s business rate relief that it received as support through the pandemic.

I don’t think Tesco furloughed any of their staff"

It was badly worded sorry.

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By *ove2pleaseseukMan
over a year ago

Hastings

"Not furlough money but money saved from business rates.

Tumbs up Tesco!!! "

Or is it that if they keep it the profit will go up and there will be more to pay in capitalgains tax ? ?

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By *arkus1812Man
over a year ago

Lifes departure lounge NN9 Northamptonshire East not West MidlandsMidlands

"Wonder how many other supermarkets will follow suit?

Morrisons have done likewise.

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By (user no longer on site) OP
over a year ago

"Wonder how many other supermarkets will follow suit?

Morrisons have done likewise."

That's great.

I hope most do. I'd say there will be some reporters who'll latch on to those who haven't.

The money was intended for those who were/would struggle and if they weren't then we're they really entitled to it?

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By *mmabluTV/TS
over a year ago

upton wirral

Why where business who where open and making money given money in the first place?

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By *ax777Man
over a year ago

Not here

"Not furlough money but money saved from business rates.

Tumbs up Tesco!!!

Or is it that if they keep it the profit will go up and there will be more to pay in capitalgains tax ? ? "

It has nothing to do with Capital Gains. It would be subject to Corporation Tax, it at 18% so they would still benefit by 82% .

The reason it’s being paid back is that there was a backlash when Tesco paid a dividend to shareholders after receiving the relief.

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By (user no longer on site)
over a year ago

"Not furlough money but money saved from business rates.

Tumbs up Tesco!!!

Or is it that if they keep it the profit will go up and there will be more to pay in capitalgains tax ? ?

It has nothing to do with Capital Gains. It would be subject to Corporation Tax, it at 18% so they would still benefit by 82% .

The reason it’s being paid back is that there was a backlash when Tesco paid a dividend to shareholders after receiving the relief. "

This is what I was going to say; they gave the extra money to shareholders. If they hadn't been criticised/caught they would have 100% kept it.

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By *ax777Man
over a year ago

Not here

"Why where business who where open and making money given money in the first place?"

It was available to all businesses

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By *cadMan
over a year ago

Cheshire

Amazing?? Get a grip, they were shamed into it.

They did this for nothing other than brand preservation, as they (and other retailers who have done well out of COVID) have come under increasing pressure and scrutiny to do so.

They were okay to pay £300 million dividends to shareholders, but only after immense pressure they buckled and agreed to pay the relief fund back.

Had nobody in the media collared them over it, they'd still be happy to continue without paying the money back.

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By *ostafunMan
over a year ago

near ipswich

morrisons are as well.

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By *ostafunMan
over a year ago

near ipswich

"Why where business who where open and making money given money in the first place?"
It was rates relief not furlough money.

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By *ophieslutTV/TS
over a year ago

Central

It's good PR for them having it in the news now, with Christmas shopping underway.

They're still open with reduced hours, so have done very nicely over this period. Still as hard to find staff on the shopfloor to help though.

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By *moothman2000Man
over a year ago

Leicestershire

I think it was also prompted by paying shareholders over £300M in dividends after a 29% increase in profits...

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By (user no longer on site)
over a year ago

"Not furlough money but money saved from business rates.

Tumbs up Tesco!!!

Or is it that if they keep it the profit will go up and there will be more to pay in capitalgains tax ? ? "

you pay corporation tax on profit

capital gains tax is a personal tax paid on would you believe it ... capital gains

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By *ools and the brainCouple
over a year ago

couple, us we him her.

They could just keep the money and give their frontline staff a huge bonus, ditch all the low hours contract's and give people real jobs with real hours .

Rather than 4 hour contract's

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By *heCrowAndButterflyCouple
over a year ago

Rushden

Sainsburys now also handing back the money gained

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By (user no longer on site) OP
over a year ago

"Sainsburys now also handing back the money gained"

Was waiting for them to respond in a similar way.

Advertising is a funny thing...

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By *ouple in LancashireCouple
over a year ago

in Lancashire

"Amazing?? Get a grip, they were shamed into it.

They did this for nothing other than brand preservation, as they (and other retailers who have done well out of COVID) have come under increasing pressure and scrutiny to do so.

They were okay to pay £300 million dividends to shareholders, but only after immense pressure they buckled and agreed to pay the relief fund back.

Had nobody in the media collared them over it, they'd still be happy to continue without paying the money back."

This..

There's little other than this to say, certainly it's not been done because they wanted to..

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By *ab jamesMan
over a year ago

ribble valley

*every little helps*

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By *riskynriskyCouple
over a year ago

Essex.

The people that own

Warhammer/Games workshop did the same.

With people stuck at home, their online sales produced one of their best years ever.

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By *ools and the brainCouple
over a year ago

couple, us we him her.

What about instead of giving it to the government give it to all the nurses and doctors who are not getting a pay rise.

Or use it to build homes for homeless people

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By *ady LickWoman
over a year ago

Northampton Somewhere

And Aldi now

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By *extasy19Couple
over a year ago

Northampton

Tesco acted because they had come under huge pressure from the press and the "red wall" Conservatives - their board was hammered in a Zoom call led by Esther McVey. According to The Times today they were being threatened with a covid windfall tax and Tesco had an emergency two day long board meeting on Tuesday and Wednesday. Alistair Osborne was scathing of their motives this morning. Once Tesco moved the rest had to follow.

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By *ostafunMan
over a year ago

near ipswich

"And Aldi now

"
Is that right? i was only going to use tesco and morrisons from now on but if aldi have i will still use them too.

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By *riskynriskyCouple
over a year ago

Essex.

"What about instead of giving it to the government give it to all the nurses and doctors who are not getting a pay rise.

Or use it to build homes for homeless people"

The Dr and nurses are getting a pay rise, it was agreed before Covid and the government are honouring it, however they are not getting separately agreed pay rise like the police and other public sector workers as theirs was already approved.

And yes the NHS pay rise is approx 4.4% compared to the 1% the others are getting.

Don't believe

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By *riskynriskyCouple
over a year ago

Essex.

"What about instead of giving it to the government give it to all the nurses and doctors who are not getting a pay rise.

Or use it to build homes for homeless people

And yes the NHS pay rise is approx 4.4% compared to the 1% the others are getting.

Don't believe everything you read in the papers."

I miss quoted above, it's the nurses that are getting an average of 4.4%, Dr's and other staff are under separate negotiations, so will receive a different %.

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By (user no longer on site)
over a year ago

"And Aldi now

Is that right? i was only going to use tesco and morrisons from now on but if aldi have i will still use them too."

This is the problem; it's now a good PR move for them when actually it was a decision that came from them being greedy as hell.

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By *ostafunMan
over a year ago

near ipswich

"And Aldi now

Is that right? i was only going to use tesco and morrisons from now on but if aldi have i will still use them too.

This is the problem; it's now a good PR move for them when actually it was a decision that came from them being greedy as hell. "
Well only the people who made the decision know the real reason everything else is peoples personal opinions,i dont care either way as long as the right thing is done in the end and will support those who have.

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By (user no longer on site)
over a year ago

I don't think any of these companies did it because they 'wanted' to.. It's becaue they were forced to.

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By *ookMan
over a year ago

london

Every little helps...

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By *andsCouple
over a year ago

south birmingham

"Think is is amazing and says a lot about the company.

Certainly good to see in the light of so many companies that have taken the furlough money whilst still encouraging staff to work."

why did they take it in the first place, bit like the mp's with the pay rise, no morals.

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By *ax777Man
over a year ago

Not here

"Think is is amazing and says a lot about the company.

Certainly good to see in the light of so many companies that have taken the furlough money whilst still encouraging staff to work.

why did they take it in the first place, bit like the mp's with the pay rise, no morals."

In fairness, it was available to all businesses at the beginning of the pandemic and at that stage no one knew how it was going to play out, so I would imagine the take up was pretty much 100%

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By (user no longer on site) OP
over a year ago

"Think is is amazing and says a lot about the company.

Certainly good to see in the light of so many companies that have taken the furlough money whilst still encouraging staff to work.

why did they take it in the first place, bit like the mp's with the pay rise, no morals."

No comparison. Also not all MPs are as you label them either, probably the complete opposite but you obviously judge all by a few... Much like saying most fabbers are twats, but some aren't.

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By *andsCouple
over a year ago

south birmingham

"Think is is amazing and says a lot about the company.

Certainly good to see in the light of so many companies that have taken the furlough money whilst still encouraging staff to work.

why did they take it in the first place, bit like the mp's with the pay rise, no morals.

No comparison. Also not all MPs are as you label them either, probably the complete opposite but you obviously judge all by a few... Much like saying most fabbers are twats, but some aren't.

Name those that are in it for the people.

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By *ostafunMan
over a year ago

near ipswich

"Think is is amazing and says a lot about the company.

Certainly good to see in the light of so many companies that have taken the furlough money whilst still encouraging staff to work.

why did they take it in the first place, bit like the mp's with the pay rise, no morals.

No comparison. Also not all MPs are as you label them either, probably the complete opposite but you obviously judge all by a few... Much like saying most fabbers are twats, but some aren't.

Name those that are in it for the people."
You could turn that around and ask to name the ones that you think are in it for themselves and on what evidence.

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By (user no longer on site)
over a year ago

"And Aldi now

Is that right? i was only going to use tesco and morrisons from now on but if aldi have i will still use them too.

This is the problem; it's now a good PR move for them when actually it was a decision that came from them being greedy as hell. Well only the people who made the decision know the real reason everything else is peoples personal opinions,i dont care either way as long as the right thing is done in the end and will support those who have."

*takes deep breath*

... Nah, I can't be bothered.

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By *eavenNhellCouple
over a year ago

carrbrook stalybridge

"Not furlough money but money saved from business rates.

Tumbs up Tesco!!!

Or is it that if they keep it the profit will go up and there will be more to pay in capitalgains tax ? ? "
think its more to do with them quite rightly being criticised for paying out large dividends to share holders whilst benefiting from this Tax relief .suspect the rest are now following suit so as not to come under the same criticism

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By *andsCouple
over a year ago

south birmingham

"Think is is amazing and says a lot about the company.

Certainly good to see in the light of so many companies that have taken the furlough money whilst still encouraging staff to work.

why did they take it in the first place, bit like the mp's with the pay rise, no morals.

No comparison. Also not all MPs are as you label them either, probably the complete opposite but you obviously judge all by a few... Much like saying most fabbers are twats, but some aren't.

Name those that are in it for the people.You could turn that around and ask to name the ones that you think are in it for themselves and on what evidence.

Good answer, like a polititions reply. Judging by the state of everything they do, or dont do, i'd say the majority.

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By *lim and louiseCouple
over a year ago

dromore

Sainsbury's have and Asda,not sure about the others

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By *lim and louiseCouple
over a year ago

dromore

If Tesco's didn't hand it back I wonder if there would be calls for them to hand it back

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By *alandNitaCouple
over a year ago

Scunthorpe

It is good to hear that companies are repaying this money, but before we praise them too much... remember that they did choose to claim this money in the first place!

Cal

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By *eavenNhellCouple
over a year ago

carrbrook stalybridge

"If Tesco's didn't hand it back I wonder if there would be calls for them to hand it back"
There already were after they paid out a dividend to share holders that near enough matched the amount they received

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By (user no longer on site)
over a year ago

Good Joe rogan podcast on conscious capitalism that is relevant to this

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By *ovebjsMan
over a year ago

Bristol

"Sainsbury's have and Asda,not sure about the others"

M&S said on Friday that they were not planning to return it bore the coop

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By *abioMan
over a year ago

Newcastle and Gateshead

"Sainsbury's have and Asda,not sure about the others

M&S said on Friday that they were not planning to return it bore the coop "

the co-op dont give out dividends.....

they are owned in effect by customers and all theirs "profits" go back into the business'

they are in effect different from the rest of the shops mentioned is the own from priate business and were giving out the the business rates relief to shareholders....

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