Sainsbury’s chief executive Justin King has said that consumers will bring about change in the corporation tax system quicker than governments.
Speaking at the BRC Retail Symposium in London, King said that if consumers change their shopping behaviour they will force change. He said it is difficult for governments to bring about change because it is an international issue.
King added that there is a separate issue of business rates. “As we as an industry are moving away from a property intensive environment to a digital world then clearly there needs to be change,” he said.
He said how local taxes are raised needs to be reviewed and “we need a debate on an anachronistic business rates system that skews retail competition”.
King also said that, while trust in the grocery industry has been dented by the horse meat scandal, it has bounced back slightly and that brands which have the consumers’ trust will last a long time.