Maddie Rooney, Sheffield North West socialist party
Ken Murphy, the CEO of Tesco, was given £9.9 million in ‘pay and perks’. This is yet another increase on his £4.5 million package last year. Where has this money come from? Increased food prices and exploitation of labour throughout the food manufacturing process. Despite what Tesco bosses might say, since May 2022 their price hikes have continuously been above overall inflation (CPI), by as much as 9.1% in April 2023, according to The Food Foundation.
Last month, Tesco announced £2.3 billion profits, up by £882 million on last year. News outlets have reported that food inflation has eased in recent months. Although it is not at 19% anymore, they failed to mention that it is still higher than CPI.
It is easy to see these announcements and feel frustrated, especially when seeing the price of your shopping basket increasing month on month. This seemingly never-ending thirst for profit that capitalism causes directly impacts workers, as our wages consistently fail to match inflation and this continual cost-of-living crisis impacts every element of our lives from shopping for food, paying energy bills, and being able to afford transport. This ongoing battle over profit and for our wages is what lies behind class struggle – the fight over the distribution of wealth that is produced by workers’ labour.
But what can be done? We must continue to organise within unions in workplaces to fight for inflation-breaking pay rises. And fight in our communities to build support for socialism – for a society democratically planned by workers ourselves. To produce things that we actually want and need, not what makes massive profits for those, like Ken Murphy, at the top of society.
