Sainsbury’s has announced it will return around £440 million it saved during the coronavirus pandemic.

It follows in the footsteps of both Tesco and Morrisons, which both announced yesterday they will return the money they saved from the Government’s business rates holiday in the crisis.

Sainsbury’s CEO Simon Roberts said: ‘We believe it is now fair and right to forgo the business rates relief that we have been given on all Sainsbury’s stores. 

‘We are very mindful that non-essential retailers and many other businesses have been forced to close again in the second lockdown and we hope that this goes some way towards helping them.’

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He added the retailer had benefitted from being an essential shop during the second lockdown.

This means three of the big four supermarkets have now agreed to give back the savings, after chains were criticised for pocketing cash from the Government scheme.

Asda, which is thought to have saved almost £300 million in business rates relief, remains out of the ‘big four’ brands to reveal its plans.

Tesco was the first to say it would hand back £585 million yesterday, followed shortly after by Morrisons, which will give back £274 million.

This totals around £1.3 billion returned to the Government from supermarket chains so far.

Tesco chairperson John Allan said: ‘The board has agreed unanimously that we should repay the rates relief we have received.

‘We are financially strong enough to be able to return this to the public, and we are conscious of our responsibilities to society.’

The Government unveiled almost £10 billion of business rates relief to last until March 2021.

The scheme was part of its economic support package during the Covid-19 crisis, intended to help retailers unable to open and struggling to make ends meet.

The news comes after the UK’s debt soared to £2 trillion last month following huge Government borrowing to keep the economy going.

Chancellor Rishi Sunak said: ‘We’ve provided over £200 billions of support to protect the economy, lives and livelihoods from the significant and far-reaching impacts of coronavirus.

‘This is the responsible thing to do, but it’s also clear that over time it’s right we ensure the public finances are put on a sustainable path.’

He warned the ‘economic emergency has only just begun’ in his Winter Spending Review last week.

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