Supermarket loyalty schemes offer genuine savings for shoppers, according to the competition regulator following an investigation into claims of price manipulation.

The Competition and Markets Authority (CMA) said its review of 50,000 loyalty priced products showed that 92% offered genuine savings against the usual price.

That was despite 55% of shoppers thinking “usual” prices were raised to make loyalty deals more appealing, it said.

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The watchdog’s report found “very little evidence” of supermarkets inflating their ‘usual’ prices to make loyalty promotions seem like a better deal but it did call on firms to bolster access to their schemes.

It was asked to investigate by the consumer group Which?.

Which? had complained that deals were “not all they were cracked up to be” but chains declared that the group’s own report on the issue had failed to take the effects of inflation into account.

The CMA’s report was published at a time of year when supermarket chains tend to scrap for market share by offering discounts to lock in customers for their Christmas grocery shopping.

There is a chance, however, that stretched consumer budgets will benefit to only a limited extent this year as the retail sector faces pressure to save money and protect profits through looming leaps in costs arising from the budget.

Major employers, such as grocers, have warned that hikes to employer National Insurance contributions from April will hurt jobs and investment while the rate of inflation has risen again above the Bank of England’s target.

Retail industry body the BRC warned earlier this week that food inflation could soon be on the rise due to rising costs, with the pace of increases for fresh produce already accelerating.

George Lusty, interim executive director of consumer protection at the CMA, said of its price probe: “We know many people don’t trust loyalty card prices, which is why we did a deep dive to get to the bottom of whether supermarkets were treating shoppers fairly.

“After analysing tens of thousands of products, we found that almost all the loyalty prices reviewed offered genuine savings against the usual price – a fact we hope reassures shoppers throughout the UK.

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“While these discounts are legitimate, our review has shown that loyalty prices aren’t always the cheapest option, so shopping around is still key. By checking a few shops, you can continue to stretch your hard-earned cash.”

The regulator said that while loyalty prices were generally some of the cheapest available, people could make an average saving of 17-25% buying loyalty priced products at the five supermarkets examined: Tesco, Sainsbury’s, Waitrose, Co-op and Morrisons.

A Tesco spokesperson said of the findings: “Clubcard Prices has always been about offering genuine savings and rewards to our customers, and we are pleased that this has been evidenced by the CMA.

“We are always working to find the best possible deals for our customers, and with around 8,000 products included in Clubcard Prices every week, we’re helping customers to save up to £385 a year off their groceries.”

As part of its review, the CMA said it also found no evidence that consumer laws were being breached by the way supermarkets collect and use people’s data when they sign up to a loyalty scheme.

Sue Davies, Which? head of food policy, responded: “Two-tier loyalty pricing has become a common practice across retailers. It’s therefore reassuring that the CMA has found that most of the prices it looked at across supermarkets offered genuine savings against the usual price.

“However, it stresses that it is worth shopping around as they aren’t always the cheapest option.”

Britain’s biggest airports are joining the growing private sector backlash against Rachel Reeves’s budget, warning that a £1bn business rates bill for the industry will trigger the cancellation of routes to and from the UK and higher costs for passengers.

Sky News has obtained a draft letter from Airports UK, which represents more than 50 airports across the country, which claims that business rates revaluations will result in the industry being forced to pay more than £1bn – a fivefold increase from the current level.

It describes the impact as “catastrophic”, and demands an urgent meeting with the chancellor to discuss the measures, which would affect the sector from April 2026.

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“Airports are already some of the largest rates payers in the country,” it said.

“These revaluations will increase average rates bills for airports in England by more than 450%, with some airports facing multiples of 12 times.”

The draft letter, which is addressed to Ms Reeves and intended to be copied to Sir Keir Starmer and other cabinet ministers, is understood to be close to being finalised.

One industry source said it could be sent in the coming days.

In the version seen by Sky News, the industry body says the soaring rates bill “is equivalent to doubling the corporation tax levied on the sector, at a time when the government has committed to stable tax and policy regimes to drive business confidence and stimulate private sector investment”.

“These increases in rates, however, would destroy any chance of this and cause huge damage to the economy,” it said.

“Investment in airport assets will decrease, routes to and from the UK will be lost (as can already be seen in Germany where taxes are rising), trade will be hurt, and British travellers will be hit with higher costs and less choice.”

Airports UK also said that the tax changes announced in the budget would jeopardise the government’s entire growth agenda.

“Without our sector as a major partner, the government’s ambition to secure the highest growth rate in the G7 and unlock an investment-led approach to transforming the economy will be materially damaged,” it said.

“The [Valuation Office Agency’s] revaluation [to determine future business rates liabilities] will threaten the UK’s status as a leader in aviation and a hub for global connectivity and trade.

“Airports cannot be expected to sustain increases of this magnitude without having to scale back investment or to cut routes.

“These increases are punitive against all sizes of airports and threaten the very viability of several airports, without which critical regional connectivity would be lost.”

“This would imperil your growth mission before it even gets started, and we request an urgent meeting in December to resolve this matter.”

The letter makes airports the latest in a string of industries to deliver stark warnings to the Treasury about the Budget’s likely impact.

In recent weeks, Sky News has revealed similar letters from the hospitality and retail sectors, in which they have told the chancellor that job losses, business closures and price rises will be unavoidable when rises to employers’ national insurance come into effect next April.

The warning from the airports industry comes amid a slew of corporate activity in the sector, with The Sunday Times reporting last weekend that London City and Bristol airports could soon change hands in a £10bn deal.

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Heathrow’s shareholder base has also changed in recent months, with Paris-based investor Ardian and Saudi Arabia’s sovereign wealth fund swooping for a 38% stake.

A spokesman for Airports UK declined to comment on the letter.

The trade association is run by Karen Dee and chaired by Baroness McGregor-Smith, a prominent businesswoman.

The daughter of a Post Office victim who was investigated while fighting terminal cancer says it’s time Fujitsu “took responsibility” on compensation.

Katie Watson’s mother Fiona passed away in 2004 less than a year after being forced to admit to stealing from her branch.

During the investigation she was diagnosed with lymphoma.

Ms Watson described it as “cold” and “heartless” to carry on with investigating her mother instead of giving her “a chance” to rest.

“Even if it was a case of ‘go through your treatment and we deal with this on the other side’, there was none of that,” she told Sky News.

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Ms Watson added: “If she had been able to fight it properly then she may have had a bit longer… she declined really quickly…she just couldn’t do it anymore.”

IT company Fujitsu developed the faulty accounting software Horizon – which saw hundreds of sub postmasters wrongfully accused of stealing from their Post Offices between 1999 and 2015.

Ms Watson is part of a campaign group called Lost Chances which was set up after Fujitsu said it was “morally obligated” to help victims and their families in January.

Paul Patterson, Fujitsu’s European head, spoke at the Post Office inquiry saying he would “engage” in conversation with sub postmasters and relatives.

He also appeared at a select committee in the same month admitting that the company had a “moral obligation” to contribute towards compensation.

Ms Watson said: “It’s time (Fujitsu) took responsibility and meant it…so far as yet there’s been no action behind it – [Paul Patterson] actually needs to do something.”

Mr Patterson met with sub postmasters and the children of Post Office scandal victims in August.

At the time he spoke to Sky News stating that Fujitsu “will contribute to redress” but that the company’s “common position” was “when the inquiry finishes”.

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The last phase of the inquiry is now drawing to a close – with final submissions held in December.

At his last appearance at the inquiry earlier this month Mr Patterson insisted that the company still “want to engage” but he was “still unclear” on how to help relatives of victims “other than sums of money”.

He promised not to “stay silent” and would explore if Fujitsu is able to “engage” with Lost Chances “before the end of the calendar year”.

The campaign group say their aim is not necessarily just about financial redress but also getting support from Fujitsu in other ways such as establishing a “family fund” to help with things like educational grants and counselling.

After the death of her mother Ms Watson said she was forced to get her first job at 14 years old to “help put food on the table” after her family lost everything.

“We ended up in a caravan – but the caravan site you could only be there for nine months of the year so for three months we were homeless,” she continued.

She added: “I didn’t end up going to college. I missed out on those opportunities – to go to school and have all that childhood.”

Ms Watson now works two jobs, seven days a week.

She said she would “never get back what we lost” but just wanted Fujitsu “to take ownership”.

A Post Office spokesperson said: “We apologise unreservedly to victims of the Horizon IT Scandal and their loved ones.

“Post Office today is doing all we can to transform the organisation for the future and support those impacted to find closure, as far as that can ever be possible.”