Plea - do not make it harder for grocers to lower store prices

Tesco bosses urge government not to make it difficult for them to lower prices. Photo: Adobe

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The boss of Tesco has made a plea to the Government to not “make it harder” for the grocery sector to keep prices low for customers ahead of the autumn Budget, despite revealing profits could surpass £3 billion this year.

Households budgets remain squeezed and shoppers are increasingly seeking out value, according to the UK’s biggest supermarket.

Ken Murphy, Tesco’s chief executive, said he was hoping the autumn Budget would not put additional pressure on grocers that are already facing much steeper business costs.