Sainsbury's Profit Announcement Reinforces Need for Supermarket Regulator-Farron

Sainsbury's today announced underlying their profits have risen 11 per cent in a year to £542m as sales increased with more people buying from cheaper product ranges. Liberal Democrat Defra Spokesperson Tim Farron MP has reiterated his call for an Independent Supermarket Regulator to ensure these profits are passed on to farmers.

Commenting Mr Farron:

"It's great to see British businesses doing well in the downturn, but these profits shouldn't come at the expense of farmers.

"At a time of such economic hardship, it's wrong that massive corporations continue to make huge profits while many of our farmers are living below the breadline.

"Over 15,000 British farmers earn less than £10,000 a year, effectively less than the national minimum wage. This means a student stacking shelves at the weekend is being paid more per hour than the farmer responsible for that food.

"A legally binding supermarket code, enforced by a powerful proactive Food Market Regulator would ensure both farmers and consumers get a fair price for their food."