Tesco continues expansion despite crisis tax

Tesco considers the crisis tax unfair and deploys its foreign lobby power against it, but apart from this the company plans in long-terms and continues to expand in Hungary – told Per Bank CEO of Tesco’s Hungarian subsidiary to Origo.

Per Bank denied the rumours, that because of the crisis tax they will negotiate with the suppliers much harder. He pointed out, that Tesco has not and still does not ask for “shelf fee” from its its suppliers. They work together with nearly 1,000 Hungarian suppliers. According to him; Tesco is the biggest supporter of the Hungarian products: 80 percent of the annual average rate are Hungarian products, but in case of seasonal products – in the summer – it can be up to 100 percent.