Food manufacturers are being squeezed by the government as HMRC withholds VAT refunds to claw back tax owed, putting thousands of jobs at risk
Food manufacturers have zero VAT-rated revenues but receive VAT refunds from HMRC for purchases made to their own suppliers
The Scotch whisky industry has attacked the UK government for its “inexplicably slow” action against hefty tariffs
Profits have soared at McVitie’s owner Pladis Foods after it lifted revenues above £2bn.
Chocolatier Thorntons lost a further £35m last year, taking its total losses to more than £100m since being bought by Italian confectionery giant Ferrero
The lockdown led to a boom in sales for Just Eat Takeaway.com, which attracted a record number of new restaurants and customers in the first half of the year.
The lockdown-driven spike in supermarket inflation dramatically fell back in July as the major grocers fired the first shots of a post-Covid price war.
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