CEOs of major food companies are testifying in Ottawa this week amid heightened concerns over food inflation.
CEOs of major food companies are testifying in Ottawa this week amid heightened concerns over food inflationGovernment needs to put regulations on food costs!
Why? It's business. If you do it right then you make a lot of money. There are a lot of companies making money off us. That's how the economy works.
Let’s get some transparency in our government before we worry about the private sector.
Thievery corporation
Why don’t you put Bell , Rogers and Telus there we pay the highest rates in the world. Look who is controlling pricing and we should know who they pay off to keep it that way.
Investigate the Carbon Tax…lazy media.
Lawmakers' hypocrisy at its finest. As if they don't know what's happening. It's the printing of these 'money', the fiat currency. There's so much of it, it's being devalued. It's the buying power that is decreasing, not the actual product that is getting 'expensive'
Why were not the USA grocers in Canada being asked the same questions? Walmart, Costco... Their food costs are also up
I would like the grocery corps to itemize how much tax and carbon tax they have to pay on each item to the Liberal Govt
yes Yes YES !
Galen Weston Greedy Pandemicprofiteer
CBC should push for transparency with the lying corrupt Trudumb government? DO YOUR JOB!!!!
Trudeau going to give them another handout? Pathetic. TrudeauChineseElect
They'll just find a way to hide their profits and screw us over while the government wastes our tax dollars with a committee.
Officials have perpetuated needless war (inflation), once again under a guise of liberation. Smh
STOP SUBSIDIZING THEM
You should be reporting on Chinese Election interference and the complicit Trudeau government
I wonder why you never report on big pharma profits 🤔
The government blew billions of dollars, devalued the currency, supported a war in Ukraine and prices went up as predicted by economists? I hate the price increases, but isn't this just pretending to do something? Dictatorships always collapse when they try price controls
its all BS , we know we are being hosed. I don't need someone to tell me .
Liberals need to worry about taxing climate change from overseas nations that do the majority of the polluting, immigrants on welfare, the Ukraine war, being woke, and taking guns from sport shooters and using billions in taxes to buy back legally owned property more right now.
Start by asking how carbon taxes increase the costs of every step in the food chain.
We know why. And it's on purpose. This is getting tiring.
Higher prices and smaller packages.. why is cheese so expensive when milk is being dumped.. 1000s of gallons.
It is your own fault people. When the big groceries stores undercut the local shops with cheaper prices you cheered. So now no local stores no competition. Well karma is a bitch…
🤔
Just a distraction. Nothing will come of it.
What about the Banks and CRA. They are also making record profits!
So little money actually. Less than 4% profit.
Stop attempting to regulate certain industries. They don't have an interest in fairness or the public good. Just create a government-run alternative company to protect Canadian consumers and create more jobs.
System is rigged. Waste of time
Here's a bill almost every working Canadian can get behind. A windfall profits tax on Grocery stores
This is all for show. Nothing will actually change. It's the Canadian way of business. Ignore the monopolies sucking people dry.
AndrewChangCBC Price gouging? The CEO said it's not happening and Andrews evidence is a tweet of them saying so. Move along, nothing to see here folks. What a gaslighting joke. The government questioning their overlords is simply a public relations exercise.
And of course progressives know a Huge Liberal donor is going to be held to account.
They should investigate Costco, walmart, gas and oil companies
They should push for the phase out of supply management.
Will be very curious if grocers cite the Liberal carbon taxes as part of the problem. Trudeau won’t like that.
Deflection. Not guberment policy, look at them greedy corpos.
Do an Inspection to loblaws bread factory you will be shocked with the amount of bread they throw away while so many canadians are hungry or pay a lot fo a loaf of bread
Its funny I dont support the grocery companies but we don't tell mechanics or auto body, plumbers coffee shops what they can charge but we want the government to tell the grocery stores they can't charge what they want? It doesn't make much sense its a free market
OR if the government really wants to regulate costs of basic needs (food, shelter) & prevent vulnerable Canadians from dying, then amend the Competition Act to include price gouging & enact emergency measures to stop it. Political grandstanding & passing the buck solves nothing.
Have you heard of the word gouging?
Why is nobody talking about the banks? They contributed to inflation the most and made the most profit out of it.
But orthodox econ told me that large firms were efficient & there’d be lower prices 4 consumers. They also said that firms just the fear of entry would be incentive to keep prices low. Might something be wrong with what their theory?
No committee to investigate continual price hikes on everything in B C?
High food prices have absolutely nothing to do with federal government incompetence. Nothing...
You do realize these guys could make close to the same percentage in GICs? All cost increases are related to Trudeau's Carbon tax. cdnpoli DefundCBC
How about we start with transparency from the government.
The probe needs to lok much deeper in the food supply chain for the causes of this rapid food price inflation carbonTax
This was last summer up north. Probably going to double soon.
I am hardly a historian but I think Mao and Stalin did something like this?
The same house of commons MPs that just gave themselves a massive pay rise AGAIN.
Let me think carbon tax Trucking is up carbon tax. To heat the grocery store is up carbon tax. The prices are never going down as long as we let the government raise bullshit taxes. Wake up people they are going to tax you to death .
If there's so much room for competition, why doesn't anyone open a grocery store with lower prices? The result of government trying to help will be a major downgrade of service & selection. Get ready for 3 aisles of a single type of soup.
Greedy unethical business practices by most grocery stores...
its called margin. The margin percentage stays the same but the costs of food increases thus increasing profit in dollars.
no to socialism
How about the fuckin Liberals look the word up so they know what it means
there are no coincidences .. timeline will likely start when Dougie made the call
The govt imposes a carbon tax which pushes up the price of everything & declares war on fossil fuels, creating barriers to pipelines & increasing costs for trucking, then looks for a scapegoat to pin it on by blaming grocery stores for causing inflation. Seriously?!!!
Tell you boss to do the same thing about China.
Why you ask? Greed. There, now you know. Or, failing that, you could ask a farmer how they are enjoying their 30% lift in income. Hopefully you don't get hit over the head with a leg of lamb.
The amount of waste at Loblaws is criminal. Small bruise on an apple? Tossed out, no discount, no staff discount into the garbage compactor. The waste is in the billions of $!!
Oh the House is looking into it? I’m so relieved.
And hopefully the lawmakers will get some tips on transparency and making profits for government funded agencies
How about banks and oil companies with their record profits!
People gotta eat so they know they can get away with the greediness.
Goverment printers go brrrrrr, demand business explain why they are now keeping more worthless paper than before. Check.
I would like to pick 4-5 items that have increased much more than the food inflation rate and ask the CEO for a specific explanation. Ex. PC water went from $2.49/case or 2 for $4. It is now $3.49 or 2 for $6. A 50% increase for bottles water and loblaw’s own brand. Hmmmm
Loblaws stock price from when the pandemic started to today..
Can someone talk about the price of gas for our vehicles It’s getting expensive to go to work!!!!
'Let them eat cake' but the cake is a $100!!
It's so typical of socialists to demonize profits. Capitalists value profits. Greater profits mean greater tax base, means greater public services, means greater philanthropy, means greater quality of life. Make profits greater again.
TrudeauChineseElect
The government prints money to finance deficits and destroys supply chains with useless covid measures. Predictably, inflation results. Government then looks for scapegoats and via CBC mouthpiece suggests even more power for government is needed to solve the problem. 🙄🤦♂️🤡🤡
Time to share the wealth - grocery chains should stock food banks!
Government control of the food supply results in famine. Until then, we have business in control. And the Canadian government is planting the seed that these companies aren't allowed to make profit. See ya'll in the future bread lines. Economics is hard.
Ahhhh! The “experts” say the “officials” should push for more transparency on WHY So that means the prices will never go back to the state they were before the scamdemic! trudeau and them want you penniless, folks. It’s gonna take time but they’ll get you there ;)
If you look back on ten years of data, the profit margin is right in trend but I don't expect the average Canadian to understand simple financial metrics when basic finance isn't taught in school
Oh good, the commies want to control your food
Easy, give us government run, CBC supported, Cuban bread lines instead of this. Or CBC can for once talk about the unprecedented money borrowing and printing this government did and how that increased the supply chain costs across the board.
Watch: the reason the gov't is scapegoating grocery chains is because it wants to nationalize the food supply, institute price controls (which will lead to shortages), and/or introduce a food rationing system -- to maximize control over the public. Venezuela 2.0
endthecbc
Piss off. We don't need governments, 'looking'. Get off your asses before we come for your heads!
If food prices are rising due to 'profiteering', why are prices rising in tandem across all economic sectors and in every Western country at the same time? Gov't caused this problem by excessive money creation & borrowing, now pretends to give you a solution: yet more gov't!
Remembering the bread fixing scandal , no change . Bread still upwards of $6 a loaf .
The liars club meets again.
Yes! I don’t understand why grocery store owners need to be billionaires! We don’t them to use their billions to invent more weird and wonderful frankenfoods! What we want is the staple products to be cheaper
Revenue is different than profit
...it's capitalism they got nothing to answer for if you don't like it open your own grocery stores! Stop complaining about it and start investing yourself!
Or, hear me out, we limit the amount they can pass on to consumers. It’s not like any other industry where you can simply go without their products
I’m much more interested in how much the government makes
Bill Gates is buying up farmland and shutting it down. How does that effect the supply chain?
So why do not we apply that same scrutiny to banks, or insurance companies, or real estate agents, or marketing firms, or business consultants, or literally any sector that makes way more margin than a retailer.
What law are they breaking
Government approves ( creates) monopoly then some time later wants to investigate why they make so much money? Unbelievable.
JAIL, would that be an option ?
i like to know how much our banks have made from this inflated mess
Dont worry, dougie will be there to protect most of them
I like how politicians are trying to pass blame onto grocers. Inflation is not the problem. Inflation is the result of the problem. Blame the government for flooding the system with too much money which is chasing too few goods/services