Penalty rate cuts would boost retailer profits rather than jobs, study suggests

Retailers would either retain all benefits for shareholders or pass on ‘negligible’ savings to customers, confidential Citi analysis saysA decrease in penalty rates would boost major retailers’ profits or result in tiny reductions in consumer prices without changing employment levels, an independent financial analysis suggests.The analysis has been seized on by opponents of penalty rate cuts who say it shows shareholders, not workers, would benefit from any cut. Continue readin