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

Trudeau summoned top Canadian grocery executives to discuss solutions for rising food prices and threatened tax measures if no real relief proposed.
Trudeau announced plans to remove federal sales tax on new rental apartment buildings to boost affordable housing.
Grocery chains reported over $100B in sales in 2022 but accused of profiteering while Canadians struggle.
Competition watchdog said more players needed in grocery sector to combat high prices.
Trudeau said will remove provisions that help companies defend big mergers, citing negative impact on competition.

reuters.com

Relevant topic timeline:

9/15/2023

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

Canadian Prime Minister Justin Trudeau has warned grocery chains that they could face new taxes if they don't address rising food prices, stating that profits should not be made at the expense of struggling families.

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, 12:07:00 AM