Asda has announced it is to scrap buy-one-get-one-free deals, as it prepares to slash prices on 5,000 lines this weekend.

The price-cutting move comes following a similar decision taken in January.

Chief executive Andy Bond said in a statement: “We’re engaging with our customers in a transparent way to ensure the products we sell and the prices we charge meet their needs in these difficult times.”

Meanwhile, Asda and Tesco have come out against the proposed strengthening of the Groceries Supply Code of Practice (GSCOP) with Tesco stating it would “add substantial costs to an industry that is generally working well for the consumer”.

Tesco said that proposed changes to the new code of conduct between supermarkets and their suppliers would spell a torrent of emails for food manufacturers should it go through, according to The Telegraph.

Asda also criticised the content of the Code stating "the world has moved on" since the Competition Commission proposed the GSCOP last year saying money-saving efforts should be the supermarkets’ focus.

The comments came after the commission released a draft version of the new code of practice including the proposed ombudsman which has proved a sticking point for some time.

The Code of Practice will change the supplier-retailer relationship considerably as it proposes suppliers will not have to pay for goods stolen from shelves or left unsold and disposed of.

It will also ban retrospective changes in the terms of contracts between suppliers and retailers.

Lucy Neville-Rolfe, executive director at Tesco, said that the proposals "adds substantial costs to an industry that is generally working well for the consumer".

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