NDP motion calling on federal government to take action to fight ‘greed’ and investigate grocery chain profits received unanimous support from MPs In Monday.
The motion called the grocery giants for making “massive profits over the past year” as the cost of groceries continues to rise. It also calls on the government to “recognize that corporate greed is a significant driver of inflation and take additional steps to support families during this cost of living crisis”.
While not binding, meaning the federal government is not obligated to act, but will have to take note of the unanimous request of the House of Commons, the motion asks the Liberals to:
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Force CEOs and big corporations to “pay what they owe” by closing tax loopholes;
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Launch an “affordable and fair food strategy” to fight “corporate greed”;
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Ask the Competition Bureau to investigate the profits of grocery chains; and
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Support a previously agreed-upon House committee study calling on grocery store CEOs to testify about “high food prices and the role of ‘greed’.”
“After sitting idle for months, Liberals and Conservatives finally agreed today that corporate greed is a problem,” NDP Leader Jagmeet Singh said in a statement after the vote.
The vote came on the heels of Loblaw’s promise to freeze the prices of 1,500 No Name-branded products through Jan. 31, 2023, citing the rising cost of groceries for Canadians who, according to the chairman and president of Loblaw, Galen G. Weston, was largely priced out of the grocery giant. control.
On Monday, Singh sought to take credit for Loblaw’s decision, suggesting the timing of the announcement was no coincidence given today’s parliamentary vote.
“Because of public pressure and our push to force grocery stores to start serving people’s needs, we have seen a positive sign Loblaws has now announced that it will freeze prices on its line of products ‘Without name “Now, although this is a positive step, we are concerned that they are freezing higher prices, inflated prices, and they could have acted much sooner,” Singh told reporters on Monday.
When asked if the Liberals’ support for the NDP motion is an indication that the federal government agrees that grocery store chains are engaging in “greed,” Deputy Prime Minister and Finance Minister Chrystia Freeland , told reporters on Monday that his government understands that the checkout counter at the grocery store is “probably” one of the places where Canadians feel the greatest pinch.
“I think we collectively need to do everything we can to push back the high prices…I would really encourage all Canadian businesses to take a ‘Team Canada’ approach to the cost of living challenge, and to really understand that. is really difficult for a lot of people,” Freeland said.
In an interview with CTV News on Monday, Sylvain Charlebois, senior director of the Agrifood Testing Laboratories at Dalhousie University, said that while grocers around the world have been freezing prices lately, he’s not sure that this is the right answer to inflation.
“Price regulation will lead to shortages and will likely lead to higher food prices,” he said. “So regulating food prices is not the right thing to do.”
Charlebois also pointed to research the lab did over the summer on the financial statements of grocery chains, and he said they found no evidence of profiteering.
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