Trudeau Warns Major Grocery Chains to Control Prices or Face Potential Taxes

Canadian PM Trudeau warned grocery chains to control rising food prices or face potential new taxes
He said grocery chains are making record profits while many Canadians struggle to afford food
Trudeau asked heads of 5 major chains to present a plan to address prices before Thanksgiving
He announced sales tax waivers for new rental apartments to help with cost of living concerns
Retail Council of Canada blamed producers/suppliers, not retailers, and said govt should remove carbon tax

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Relevant topic timeline:

9/15/2023

Trudeau Pressures Grocers on Food Prices, Unveils Housing and Competition Measures

Canadian Prime Minister Justin Trudeau has summoned the country's top grocers to find a solution to surging food prices and plans to cut federal taxes on new rental buildings in response to an affordability crisis, with the executives of the five largest grocery chains given until October 9 to come up with a proposal on stabilizing prices.

9/17/2023

Trudeau Pressures Grocers to Curb Prices or Face Tax Penalties, But Experts Doubt Summit Will Tame Inflation

Canadian grocery executives are set to meet with Prime Minister Justin Trudeau to discuss food inflation, but analysts argue that the summit is unlikely to have a significant impact on the issue. Trudeau called for a plan to stabilize food inflation and warned that tax measures were on the table if consumers continued to face high grocery prices. However, analysts believe the summit is a disingenuous attempt to appear proactive on affordability concerns, and that grocers alone cannot solve the issue. They argue that factors such as the war in Ukraine and other players in the supply chain also contribute to rising food prices.

10/5/2023

Canadian Grocery Chains Pledge Price Relief Amid High Inflation

The Canadian government announces that major grocery chains in the country have committed to help stabilize food prices, offering discounts, price freezes, and price-matching campaigns.

10/6/2023

Canadian Government Secures Grocery Price Cut Commitments and Introduces Legislation to Lower Food Costs

Canada's five largest grocery chains have made commitments to stabilize food prices and propose actions to keep prices down, including discounts, price freezes, and price-matching campaigns, in response to the government's efforts to address rising food prices. The government will establish a Grocery Task Force to monitor these commitments and investigate consumer-hurting practices. If results are not seen, additional actions may be taken, such as imposing taxes on the grocery chains.

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Posted 9/15/2023, 1:48:54 AM