Asda became the latest multiple to announce a round of new year price cuts this week.
Following the £70m of cuts announced by Tesco on January 5, Asda said it was taking £85m off prices, including £2m of cuts to offset VAT on 200 medicines. The cuts bring cough and cold remedies into line with zero VAT prescription medicines. “Our customers don’t see why they have to pay VAT on essential items such as cough and cold remedies, nor do we,” said trading director Angela Spindler.
All Asda’s 600-plus SmartPrice products have been cut with further reductions on big brands and its Good For You food ranges.
Following the £70m of cuts announced by Tesco on January 5, Asda said it was taking £85m off prices, including £2m of cuts to offset VAT on 200 medicines. The cuts bring cough and cold remedies into line with zero VAT prescription medicines. “Our customers don’t see why they have to pay VAT on essential items such as cough and cold remedies, nor do we,” said trading director Angela Spindler.
All Asda’s 600-plus SmartPrice products have been cut with further reductions on big brands and its Good For You food ranges.
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