Says is all really - from an excellent CD called Supermarket (of course) from Neil Phillips.
It prompted me to calculate just how much filthy lucre Morrison's will be hoovering up from the residents of Bolsover and passing over to support the exorbitant lifestyles of their executives and shareholders.
Although their profits are dipping Morrison's still made some £450M on sales of £8.9bn which is about 5%. Derbyshire County Council calculate the turnover from the store in Bolsover would be £21M a year.
That means that over £1M will be going from families in Bolsover straight back as profit to shareholders and investors in the City of London. This is what they mean by an "investment". Contrast this with the local shops they will put out of business when the vast majority of any profit they make is kept locally.
It used to be the Conservatives who supported market economics and the Labour party who supported co-operatives and social ownership. But it seems that Blue Labour in Bolsover is as enthralled by big business as George Osbourne in London. Good job there is still one party offering a genuine alternative to the Coalition.
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