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Sainsbury's Faces £140 Million Hit from National Insurance Hike, Warns of Rising Inflation
Sainsbury's, one of the UK’s largest supermarket chains, is facing significant financial challenges following recent budget measures that will add a £140 million burden to its operating costs. Chief Executive Simon Roberts warned that this increase, stemming from the hike in employers' national insurance contributions, is likely to lead to further inflation and potentially tough choices for the company. Roberts noted the financial strain that the increased national insurance contributions will impose, saying, "This impact on national insurance was unexpected and is coming in fast, it will have a very significant impact, it will impact our costs base... and our suppliers' cost base." This unexpected financial weight will come into effect in April, following Chancellor Rachel Reeves' announcement in last week’s budget. The Sainsbury’s CEO expressed concerns about the inflationary impact of these new costs, noting that they are beyond what the company can absorb. "There’s a barrage of costs," he said, highlighting that Sainsbury’s customers might ultimately bear the financial brunt of these changes. Roberts pointed to the analysis of the Office for Budget Responsibility (OBR), an independent forecaster, which suggested that Reeves’ budget measures will drive inflation higher than originally anticipated. "It’s difficult to disagree with" the OBR’s assessment, Roberts added. In addition to the national insurance increase, the new budget also raised the national minimum wage, another factor contributing to overall cost increases. While Roberts did not put a specific number on how much these changes would inflate prices, he acknowledged the growing pressure, saying, "There’s a lot of pressure in the pipeline... there’s pressure in the system in inflation already." Roberts expressed disappointment over the budget's impact on business rates as well. Many businesses had anticipated a reduction in these rates, but instead, they are now expected to rise next year. Roberts commented, "Business rates will go up this year. I certainly didn’t expect them to go up next year; I expected them to go down." As for the potential impact on Sainsbury’s workforce, Roberts stated that it is "too early to be specific," but he acknowledged that "difficult decisions" would likely have to be made. Although he did not elaborate on whether these decisions could involve staffing changes, he hinted that the combination of rising national insurance, minimum wage costs, and other pressures may lead to unavoidable adjustments in operations. Sainsbury’s is not alone in dealing with the implications of the new budget. Other major UK companies have reported similar concerns. JD Wetherspoon, the pub chain with more than 1,000 establishments, announced that the budget measures would increase its costs by £60 million next year. Marks & Spencer, another prominent UK retailer, expects to see a £120 million impact on its finances. These announcements highlight the widespread concerns across the retail and hospitality sectors, which are grappling with the same financial pressures as Sainsbury’s. Based on a report by Sky News 2024-11-09 -
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Dog deterrent app that actually works ??
"Sounds can become uncomfortable for dogs around 25,000 Hz. The rule of thumb is the higher the frequency and the louder the noise (or higher the decibel), the more discomfort it will cause your pup." Source: https://racheltaylorgeier.org/2021/11/06/whats-the-frequency-fido/#:~:text=Sounds can become uncomfortable for dogs around 25%2C000 Hz. -
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THAILAND LIVE Thailand Live Saturday 9 November 2024
Malaysia's Kelantan State Plans 100km Wall on Thai Border Picture courtesy: MGR online Kelantan, a Malaysian state adjoining Thailand's Narathiwat province, has put forward a proposal for constructing a 100-kilometre-long wall along its border. This ambitious project aims to address cross-border crimes, smuggling, and flooding issues. Full story: https://aseannow.com/topic/1343034-malaysias-kelantan-state-plans-100km-wall-on-thai-border/ -
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Malaysia's Kelantan State Plans 100km Wall on Thai Border
Picture courtesy: MGR online Kelantan, a Malaysian state adjoining Thailand's Narathiwat province, has put forward a proposal for constructing a 100-kilometre-long wall along its border. This ambitious project aims to address cross-border crimes, smuggling, and flooding issues. Deputy Chief Minister Mohamed Fadzli Hassan shared with the Bernama news agency that Kelantan seeks approval from the federal government in Kuala Lumpur to proceed. The proposed wall will not only act as a physical barrier against illicit activities but also serve as a flood prevention measure. "Given the vastness of the Malaysia-Thailand border, relying solely on security forces to monitor the area is challenging. We are taking this proposal to the federal level," said Hassan on Tuesday. This initiative aligns with the suggestions of the Kelantan state police chief, who recently recommended such a measure to local authorities. The Kelantan-Narathiwat border runs along the Kolok River, presenting unique challenges due to its watery boundary. While Malaysian authorities have increased efforts to curb smuggling and crime along the Thai border, Kelantan faces particular difficulties. The issue is compounded by the fact that many border areas along the river are privately owned, complicating enforcement efforts. Neighbouring provinces like Satun, Songkhla, and Yala already have some existing border structures, including walls and fences. These are a mix of bilateral and unilateral projects designed to manage border integrity. As discussions move forward, this proposal highlights the ongoing complexity of managing international borders, where geographical and practical challenges persist. If approved, the wall would represent a significant commitment to addressing regional security and environmental issues. However, it may also require delicate negotiations with private landowners and careful consideration of cross-border relations, reported Bangkok Post. -- 2024-11-09 -
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Simplest way to connect 3 monitors to Desktop? Best suggestions?
YES. Correct. I have never used a usb-c monitor. Reason: I am OLD AS THE HILLS..... So, I have ZERO experience with this...haha...!!!! Not sure how (or if possible) I might take advantage of using the usb-c to connect one-or-any of the 3 (legacy type) monitors. If this comment seems stupid...it's only because this is the first time I have had a motherboard that provided this functionality. -
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Left-Wing Conspiracy Theories Surge on Social Media After Trump’s 2024 Win
Well see here, these fake news activists at your go to source for fake news come up with this mind numbing theory fit for a heroin junkie and all the brainwashed liberal muppets dining on $hit sandwiches since Nov 6. Enjoy.
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