So you're just replacing a profit tax with a revenue tax? For low-margin industries that'll have a significant impact, and grocery stores for example will be he

So you're just replacing a profit tax with a revenue tax? For low-margin industries that'll have a significant impact, and grocery stores for example will be heavily hit by it (Tesco, for example, made £1.3B pre-tax profit on £64.8B revenue, which is roughly expected for the industry), with consequential rises in the prices of food. A revenue tax disproportionately hits low-margin industries, which typically account for a disproportionate amount of expenditure of low-income households, which is likely a bad thing.