Supermarket giant, Tesco, has revealed its plans for a new store in Stevenage Old Town. Having secured a long lease on the Elmes Arcade in the High Street, the new Tesco Express will apparently see the creation of 25 new jobs.
Bearing this in mind, a study by the New Economics Foundation has found that £10 spent in a supermarket generates only £14 for the local economy compared with £25 if spent on a local organic box scheme in Cornwall. In fact, “the research suggested that if every person, tourist and business switched only 1% of their current spending to local goods and services, an additional £52 million would be put into the local economy annually.” (Corporate Watch)
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