September 30, 2023

Last year, the Tesco boss was paid more than £4 million despite shoppers facing soaring food prices.

Ken Murphy took home £4.44m and his £1.37m salary was supplemented by bonuses and other perks.

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Although this was less than the £4.75 million it earned last year, critics said it was “a bad look for Tesco” given that many customers are struggling with rising food prices.

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Responsible: Tesco boss Ken Murphy.

Inflation in the UK is just over 10 percent, but average food prices are up nearly 20 percent from last year.

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And Murphy’s salary is 200 times higher than the average salary at Tesco, which is around £20,000.

Cork-born Murphy is also known to be registered for Irish taxes and pays a lower rate there than in the UK.

Andrew Speke of the High Pay Center think tank said: “This is a bad look for the Tesco boss given the current climate and high food prices.

“He should prioritize keeping food prices low and wages high for workers.”

The payout follows a turbulent week for Tesco after its chairman, John Allan, was forced to deny he touched women’s butts twice. He was paid £713,000, up from £695,000 a year earlier.

There is widespread anger at the so-called “supermarket speculation” where grocers are accused of cashing in on rising prices. Tesco’s sales last year were £57.7bn and profits were £2.6bn.

MPs are investigating rising food prices and whether parts of the supply chain are benefiting “unduely” from food inflation.

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