Basic foods eat up real wages: Lidl is also calling for a temporary suspension of VAT on basic foods as a short-term measure against inflation and will reduce the prices of 100 products by the corresponding tax rate from September 28 to the end of October!
The ongoing analyzes by the Chamber of Labor and other organizations would confirm Lidl’s unbeatable price-performance ratio in Austria, a press release said. At the same time, increases in energy and fuel costs, financing and personnel costs are reflected quickly and clearly, especially in the tightest calculations.
Lidl prepared to suspend VAT
A temporary suspension of VAT on basic foodstuffs could provide short-term relief for consumers. “We would of course immediately and fully pass on a suspension of VAT on basic foodstuffs! In any case, it would be a measure that could be implemented quickly without too much administrative hassle. We are ready,” says Alessandro Wolf, CEO of Lidl Austria.
With this campaign, Lidl covers costs that run into millions
To reinforce the demands, Lidl will “cancel” VAT on 100 basic food products from September 28 to the end of October and reduce prices by the corresponding tax rate. In total, Lidl Austria claims to cover costs running into millions. Money that customers save, the company said at the start of the campaign.
With the VAT campaign, the most important foodstuffs such as sandwiches, butter, bananas, milk, minced meat, flour, sugar, oil, etc. are 10% or 20% cheaper at Lidl until the end of October. An overview of the discounted products can be found here!
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
