NDP proposes price cap on food staples if grocery companies don't lower costs
As grocery prices continue to weigh heavily on the minds and pockets of Canadians, the federal NDP is proposing a price cap on food staples if the country’s largest grocers don’t agree to lower costs.
In a statement, the party said that despite the federal government’s attempts to lower prices — mainly with the introduction of the Grocery Code of Conduct — food costs are still too high.
“High grocery prices have been hurting families for months,” said party leader Jagmeet Singh.
“Canadians know that the problem is corporate greed. People are boycotting grocery stores because the Liberals and Conservatives have failed to protect Canadian consumers from price gouging or hold these massive corporations accountable.”
Canada’s Grocery Code of Conduct has been considered a significant attempt toward improving the resiliency and efficiency of the grocery supply chain. However, not all Canadian grocery chains have signed the code, leading to a delay in its implementation.
In May, Loblaw Companies Ltd. announced it was ready to sign the code after months of hesitation and previous concerns.
“The Code now requires the participation of all major retailers and suppliers to help bring in a new era for Canada’s grocery industry, enhancing the relationship between retailers and suppliers, who both exist to best serve customers,” said Loblaw CEO Per Bank in a previous statement.
Neither Walmart nor Costco has signed the code yet, and some experts have noted that its terms will not work unless all industry players agree to participate.
Canadians have even taken the matter of high grocery prices into their own hands by boycotting Loblaw stores.
The boycott was initiated by the Loblaws Is Out of Control Reddit group, an online community of frustrated shoppers. They’re calling on the grocery giant to lower prices, remove “member-only pricing,” and commit to end price gouging, among other demands.
Do you support a price cap on staple grocery items? Let us know in the comments.
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