Labour should shelve tax hike

TESCO IN 'EVERY LITTLE HELPS' PLEA

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TESCO has warned Labour against hitting firms with tax hikes despite raking in profits of more than £100 a second.

The supermarket giant was accused of “corporate greed” as it upped its full-year profit forecast after making £1.67billion in the past six months. That was in spite of April's much-criticised rise in employers’ National Insurance contributions and a higher national living wage. Shareholders were rewarded with a £314million half-year dividend.