The report’s release comes two months after the House finance committee voted in favour of an NDP motion calling for a windfall tax on big grocery chains.James Donaldson, Chief Executive Officer, BC Food and Beverage waits to appear via videoconference as a witness at the Standing Committee on Agriculture and Agri-Food investigating food price inflation in Ottawa, on Monday, March 6, 2023.
The House agriculture committee is calling on the Liberal government to consider policies that would tackle excessive profits in the grocery sector. Following a months-long study, the committee released its long-awaited report on stabilizing food prices on Thursday, which included 10 recommendations for how the feds can crack down on volatile prices in the grocery store.
Among the recommendations included introducing measures that would “effectively tackle excessive net profits in monopolistic and oligopolistic sectors in the food supply chain, which are driving up food prices for consumers and input costs for farmers.”