Tesco to repay £585m business rates relief in full
Tesco will repay the business rates relief it received at the beginning of the coronavirus pandemic, which boss Ken Murphy has said is “absolutely the right thing to do”.
The supermarket chain said it will repay the £585m in business rates relief it received and work with the UK government and devolved administrations on the best way to do so.
Tesco has stressed that the entirety of the relief funds it received were used on costs associated with running its store estate and ecommerce division safely during the ongoing coronavirus pandemic, which it estimated had incurred £725m in costs at its interim results in October.
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