SAINSBURY’S boss Justin King yesterday urged the government ahead of today’s Budget to boost job creation by giving businesses a National Insurance holiday, as the supermarket chain posted a jump in fourth quarter sales.
King, who previously served on the Prime Minister’s business advisory panel, said introducing a National Insurance holiday for six to 12 months would encourage businesses to employ more staff, get more people off benefits and lift consumer spending.
Sainsbury’s said it plans to create 6,000 jobs in the year ahead.
His comments came as the group delivered a stellar 3.6 per cent rise in like-for-like sales excluding fuel in the 10 weeks to 16 March, outpacing rivals and topping analyst forecasts.
Its performance was driven by a 20 per cent year-on-year jump in online grocery sales and a 20 per cent year-on-year growth at its convenience stores.
King said its brand match programme also boosted growth. He warned Tesco’s new price promise scheme “unfairly” compares own label products because it does not factor in quality.