Vince Cable comments on GCA announcement on Tesco's relationship with its suppliers
Vince Cable responds to the announcement that the Groceries Code Adjudicator will be launching an investigation into Tesco.
In response to Christine Tacon’s announcement that the Groceries Code Adjudicator (GCA) will be launching an investigation into Tesco’s relationship with its suppliers between 25 June 2013 and 5 February 2015 Business Secretary Vince Cable said:
This is an historic day for the Groceries Code Adjudicator and shows we have created a regulator that has real teeth. Last week I secured the final agreement in government to proceed with legislation to enable the regulator to impose hefty fines for those supermarkets found guilty of mistreating suppliers. I have also agreed an increase of almost 40% in the adjudicator’s funding for the coming year so that it can carry out its important work. Now that a formal investigation has been launched, I would encourage anyone with any evidence of wrongdoing to come forward and to be confident of being able to do so confidentially as their anonymity will be protected by law.