INVESTIGATION NEEDED INTO SUPERMARKET LANDBANKING : MULHOLLAND
April 26, 2006 12:00 AM
Local MP Greg Mulholland, member of the All Party Parliamentary Group on Small Shops, has called for an investigation into the so called 'land banking' tactics of large companies, particularly supermarkets.
Speaking on the BBC's Daily Politics Show in the aftermath of Tesco's huge £2.25 billion profits he called for an investigation. Greg Mulholland commented;
"This sort of land banking that Tesco has is clearly of real concern considering that the supermarket chains currently have £6 billion of land over the country. It is a situation that needs to be looked into thoroughly.
"Tesco say these sites are for their own development purposes yet there exists a fear that they are holding onto them to prevent competitors or small businesses from setting up there.
"It is not right for any organisation whether it be public sector or private sector to hoard important areas of land. There should be a time limit by which development will need to be started to ensure important areas are utilised for the benefit of local communities.
"It is another example of how supermarket giants have an undue influence on British retailing."
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