Singh, federal NDP restate call for price caps on groceries
Posted July 8, 2024 4:19 pm.
Last Updated July 8, 2024 4:30 pm.
The federal NDP is reiterating its call for Parliament to threaten price caps on essential groceries if big-chain retailers don’t lower prices on their own.
In June, the party announced that its motion to implement a price cap had been voted down by both federal Liberals and Conservatives.
NDP Leader Jagmeet Singh restated the demand outside a Loblaws Superstore in Coquitlam Monday, saying the rules need to be changed to protect consumers.
He cited a recent analysis from Dalhousie University that showed that Loblaws made $180 million in ‘excess’ profit over a six-month period in 2022.
“Loblaws posted a million dollars a day in excess profits. These are outrageous numbers. And the thing is, when they’re making outrageous profits, people are paying their price. You are paying more for less. People are hurting,” said Singh.
Some food costs have recently eased due to a decline in inflation, but New Democrats say prices have not dropped nearly as much as they have risen in the past three years. The party is accusing major grocers of being greedy.
“We’re talking about an essential basket of goods that should be affordable for Canadians, and we want to force grocery stores to do that, otherwise we will impose a price cap,” said Singh in June.
He reiterated Monday, “Families are hurting because they try to go in and buy basic things. You need cooking oil? Want some fruits for your family? It’s so expensive to buy healthy. What are families to do when the costs are so high?”
Singh also says he wants to end “corporate handouts” for massive grocery retailers, but says the Liberals and Conservatives voted down the plan.
While food prices outpaced general inflation for the last couple of years, they have been easing in recent months.
The federal government has been courting international chains to set up shop in Canada to increase competition and has threatened to impose a grocery code of conduct if the stores can’t figure one out on their own.
—With files from The Canadian Press.
